Melton Mowbray Building Society has launched a competitive new three-year discounted mortgage, which has earned a four-star review.
This mortgage has a discounted rate of 3.89% variable, which is the lowest rate for this term at a loan-to-value (LTV) of 95%. A fee of just £398 is payable.
This deal is open to first-time buyers, second-time buyers and remortgagors with a 5% deposit. While there is no incentive package with this mortgage, there is the option to make overpayments of up to 10% of the outstanding balance per annum, offering borrowers some welcome repayment flexibility.
This offer from Melton Mowbray BS is a competitive one and boasts an attractively low rate. The small fee and the option to make overpayments give this deal extra gloss and are sure to entice borrowers with only a modest deposit.
Four Moneyfacts Stars have been awarded.
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