Metro Bank has introduced a number of new five-year fixed rate products, including a 65% loan-to-value (LTV) mortgage which boasts the lowest rate in the sector. Combined with a reasonable fee, the new deal has rightly jumped to the top of the Moneyfacts Best Buy charts for its sector.
This mortgage has a rate of 1.99% that is fixed for five years, making it the market leader of its sector. It's available at a 65% LTV and comes with a £999 fee.
The deal is offered to all borrowers with the necessary deposit. It comes with the option to make overpayments of up to 20% of the outstanding balance per year, giving borrowers the chance to reduce their mortgage capital.
This mortgage has stormed into the charts and now has the lowest rate in its sector. Taken together with the reasonable fee and flexibility in overpayments, it fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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