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Top marks for discounted mortgage

Top marks for discounted mortgage

Category: Mortgages
Date: 25/06/2015

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 It is now over 6 months old so the content may be out of date.

Hanley Economic Building Society has launched a highly competitive two-year discounted variable mortgage, which has earned the top accolade for its attractive rate and terms.

The basics…

This mortgage has a variable rate of 3.79% (1.40% disc) for two years at a loan-to-value (LTV) of 95%, the lowest rate currently available among similar deals. As an added bonus, absolutely no product fees are payable.

The finer details…

This deal is for all borrowers with a modest deposit of just 5%. A generous incentive package of a £250 rebate and a free valuation (max £260) is available to all applicants, while remortgagors can also benefit from free legal fees (max £250).

Repayment flexibility is also offered, with overpayments of up to 10% of the outstanding balance permitted per year.

Why we like it…

This deal competes on every level, offering borrowers with only a modest deposit a complete package. The low rate, combined with the absence of any product fees and the highly generous incentive package, make this mortgage a truly cost-effective option, which is likely to strongly appeal to borrowers with a limited budget. 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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