Melton Mowbray Building Society has released a three-year discounted variable rate mortgage that has shot straight into the top 10 of its sector for its highly competitive rate and terms.
This mortgage has a variable rate of 1.50% (3.49% disc) for three years and is available at a loan-to-value (LTV) of 65%, making it the lowest rate available for its terms. As an added bonus, absolutely no product fees are payable.
First-time buyers, homemovers and remortgagors are all welcome to apply provided they have the right deposit. While there are no incentives attached to this mortgage, borrowers do have the option of making overpayments of up to 10% of the outstanding balance per annum.
This deal is sure to grab the attention of borrowers – not only does it boast the lowest rate for its terms, but it is also blessed with the absence of any product fees, making this a cost-effective option for those with the right deposit. 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 Any products featured may be withdrawn by their provider or changed at any time.
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