The two-year discount mortgage has a maximum LTV of 80% for just 2.99%, a reduction of 1.60% from the current 4.59% SVR.
Carole Charter, marketing manager at The Cambridge Building Society, said: “This discounted product is limited and we are expecting high volumes of business.
“We are continuing to look at how we can provide the best products and services to intermediaries and this product comes at a time when competitive rates are as important as providing a good service.”
A 1.25% (minimum £1,499) application fee applies and can be paid upfront or added to the loan subject to the overall LTV limit.
The discount product is available for house purchases, remortgages, and further advances.
