‘Outstanding’ mortgage for small deposits | Product News - Moneyfacts

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‘Outstanding’ mortgage for small deposits

‘Outstanding’ mortgage for small deposits

Category: Mortgages
Date: 26/11/2015

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 It is now over 6 months old so the content may be out of date.

Loughborough Building Society has introduced a highly competitive two-year fixed rate mortgage to the market, earning it the top accolade for its eye-catching rate and terms.

The basics…

This mortgage has a competitive fixed rate of 2.49% for two years. It is available at a loan-to-value (LTV) of 90% and has a fee of £599.

The finer details…

All borrowers in possession of a modest deposit of 10% are welcome to apply for this deal. There are no incentives to further entice borrowers, but they are given the opportunity to make overpayments of up to 10% of their outstanding balance.

Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian Credit Expert to investigate your credit report.

Why we like it…

Small deposit-holders are likely to view this new deal with interest as it promises to be very cost-effective. The rate is highly competitive and the fee is more than reasonable, while the option to make overpayments adds a welcome degree of flexibility. 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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