Loughborough Building Society has launched a new two-year fixed rate mortgage onto the market, snatching a place on the Moneyfacts charts and an 'excellent' rating as a result.
This mortgage charges a competitive fixed rate of 2.49% for two years at a loan-to-value (LTV) of 90%. A modest fee of £599 is payable.
This deal is for all borrowers with a modest deposit of 10%. Although there are no incentives, borrowers do have the option to make overpayments of up to 10% of the outstanding balance, giving them some welcome repayment flexibility.
This mortgage is a competitive entrant in the charts and is sure to attract interest from borrowers with only a modest deposit. The fact that the deal also includes an option to make regular or lump sum repayments further sweetens the deal, ensuring that it merits its place on the charts.
Moneyfacts rating: Excellent
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