Discounted mortgage holds its place in the charts | Product News - Moneyfacts

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Discounted mortgage holds its place in the charts

Discounted mortgage holds its place in the charts

Category: Mortgages
Date: 18/09/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Hanley Economic Building Society has reviewed its range of discounted variable rate mortgages and made some marginal increases. However, the two-year product has retained its competitive edge and held on to a position in the Moneyfacts charts.

The basics…

This two-year discounted mortgage has a rate of 4.69% at a loan-to-value of 95% - a top 10 rate for its sector. A booking fee of £250 is needed to secure the rate.

The finer details…

This mortgage is available for house purchases only and both first-time and second-time buyers can apply. An enticing incentive package of free valuation fees (up to £260) is available.

Once the two-year rate has expired, the rate will revert to an Existing Borrowers Rate of 5.19% for the remainder of the mortgage term.

Borrowers are offered flexibility in their repayments with the option to make overpayments of up to 10% of the outstanding balance per year.

Why we like it…

This is a competitive offering and is sure to attract borrowers seeking to fund their new home purchase. The fee to secure this mortgage is also very low and will help to keep initial costs down, especially when combined with the attractive incentive package, something that is bound to appeal to borrowers everywhere.

Four Moneyfacts Stars have been awarded.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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