New ‘outstanding’ discounted mortgage | Product News - Moneyfacts

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New ‘outstanding’ discounted mortgage

New ‘outstanding’ discounted mortgage

Category: Mortgages
Date: 24/04/2015

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 It is now over 6 months old so the content may be out of date.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 introduced a new three-year discounted mortgage onto the market, which has earned the highest accolade for its highly competitive rate and terms.

The basics…

This mortgage has a variable rate of 3.69% (1.30% disc) for three years, which is the lowest rate currently available in its sector. It is available at a loan-to-value (LTV) of 95% and has absolutely no product fees.

The finer details…

This deal is available to first-time buyers, homemovers and remortgagors with a 5% deposit. All borrowers can profit from an incentive package of free legal fees.

Repayment flexibility is also offered with this mortgage: overpayments of up to 10% of the outstanding balance can be made, either by lump sum or regular payment.

Why we like it…

This mortgage can currently boast of having the lowest rate in its sector, something that is sure to grab borrowers' attention. Those with only a modest deposit are likely to also be pleased by the absence of any product fees and the guarantee of help towards legal costs. 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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