Loughborough Building Society has added a selection of variable rate mortgages to its range, most notable being the launch of the two-year discounted variable rate, available to borrowers with deposits of 10% and over.
This new deal offers a rate of 3.59% variable for two years and has a maximum loan-to-value of 90%.
Between £20,000 and £300,000 can be borrowed by purchase and remortgage customers.
A fee of £499 is payable either upfront or added to the mortgage advance.
Customers also have the option to overpay up to 10% of the outstanding balance.
This new mortgage should appeal to borrowers with smaller deposits who are looking for a competitive variable rate. Four out of five Moneyfacts Stars have been awarded.
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