New 5-yr fixed mortgage gets full marks | Product News - Moneyfacts

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New 5-yr fixed mortgage gets full marks

New 5-yr fixed mortgage gets full marks

Category: Mortgages
Date: 13/05/2016

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 It is now over 6 months old so the content may be out of date.

Post Office Money has unleashed a new highly competitive five-year fixed mortgage onto the market, winning it an 'outstanding' rating and a coveted place in the Moneyfacts charts.

The basics…

This mortgage has a rate of 2.94% fixed until 30.6.21, the lowest rate currently available for its terms. It is offered at a loan-to-value (LTV) of 90% and has a fee of £995.

The finer details…

All borrowers who have a modest deposit of 10% are welcome to apply for this deal. It is accompanied by an enticing incentive package of free valuation and a £300 rebate, which will appeal to those who are keeping to a strict budget. Borrowers will also be given the opportunity to make overpayments of up to 10% per annum.

Why we like it…

This new entrant to the market is bound to attract attention thanks to its eye-catching rate and tempting incentive package. Keeping both upfront and long-term costs down is vital for those who have only a modest deposit, so this deal is bound to find favour. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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