Marsden Building Society has introduced a new two-year fixed rate mortgage to its range, which has leapt straight into the Moneyfacts charts for its highly competitive rate and terms.
This mortgage has an eye-catching rate of 2.39% fixed until 31.1.18, enabling it to take a prized place in the charts. It is available at 90% loan-to-value (LTV) and has a fee of £998.
All borrowers with a more modest deposit of 10% are welcome to apply. An incentive package of free valuation is offered to all applicants, while those looking to remortgage can also take advantage of free legal fees.
Borrowers are also given the opportunity to reduce their outstanding balance by making regular overpayments of up to 5% of the mortgage advance per annum.
This newcomer has wrestled into the charts and secured itself a comfortable position thanks to its competitive rate. Borrowers with smaller deposits are also likely to welcome the generous incentive package, which will help to keep upfront costs down, particularly for remortgagors. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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