The Nottingham has revealed it will now be launching a 7 year fixed rate mortgage with an interest rate of 2.94% for loan to value’s (LTV) up to 80%. The product comes with an arrangement fee of £800, as well as free basic valuation and an assisted legal package for remortgage customers. Extra payments of up to 10% are viable each year, with a minimum of £500 – the mortgage is also portable.
Making it unique in the current market, this new offer is available to every type of borrower, designed to ease the burden for those with tighter budgets and plan ahead of any future changes in the base rate.
Not only this, The Mortgage Trust is also now offering a host of best-selling 2 year fixed rate deals to help aid borrower’s security. Despite not quite topping 7 year fixed mortgage rates as far as longer term security is concerned, 2 year fixes at 75% loan to value (LTV) are available at 3.05% with a £995 product fee, 2.65% with a 1.5% fee, or 3.99% at 80% LTV with no fee. 2 year fixes with a 1% fee are also available with a rate of 3.45% at 80% LTV and 3.4% at 75% LTV with no fee. The Mortgage Trust also offers a remortgage only 2 year fixed rate of 2.99% at 75% LTV with a £1995 product fee.
Elsewhere in the market, Skipton Building Society has also now applied changes to selected fixed rates across its residential mortgage range, however, this time it will be withdrawing its 2 and 5 year fee-free options. This includes all fee-free 2 and 5 year residential fixed rate purchase products, except for those at 90% LTV.
Finally, keeping in line with residential mortgage deals, Precise Mortgages has launched new tracker and fixed rates. Including tracker rates starting from 2.99%, fixed rates from 3.49% and help to buy rates from 3.55%, the lender’s latest offers across various tiers have already proved particularly competitive in the current market.