Loughborough Building Society has reduced the rate of its three-year discounted mortgage, enhancing its status as a Moneyfacts best buy.
This mortgage has a new variable rate of 2.09% (2.90% disc), which has boosted its competitiveness. It is available at a loan-to-value (LTV) of 80% in England & Wales and at an LTV of up to 85% in the East Midlands. No fees are payable.
This mortgage is available to first-time buyers, homemovers and remortgagors living in England & Wales. Although there isn't an incentive package, borrowers do have the option of making overpayments of up to 10% of the outstanding balance, which adds some welcome flexibility.
The rate reduction has enhanced the appeal of this mortgage, something that is sure to get noticed by eager borrowers. The absence of any product fees and the option to make overpayments are added bonuses and ensure the continued status of this mortgage as a Moneyfacts best buy.
The highest accolade of five Moneyfacts Stars has been awarded.
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