New 4-star discounted mortgage launched | Product News - Moneyfacts

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New 4-star discounted mortgage launched

New 4-star discounted mortgage launched

Category: Mortgages
Date: 10/11/2014

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 It is now over 6 months old so the content may be out of date.

Melton Mowbray Building Society has launched a competitive new three-year discounted mortgage, which has earned a four-star review.

The basics…

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.

The finer details…

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.

Why we like it…

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.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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