FNMC’s new offer provides a discount of 1.25 per cent (SVR 5.99 per cent) for the first six months of the mortgage term, giving a current starting rate of just 4.49 per cent.
The product offers LTV’s of up to 90 per cent and a maximum loan of up to £300,000, with most other terms the same as for FNMC’s existing range of Standard Variable Rate products. Procuration fees are 1 per cent for intermediaries and 1.5 per cent for packagers.
Gerry Bell, Marketing Manager, said: “The launch of this product provides customers with the option of minimising their monthly payments in the crucial early months of the mortgage. It is also tangible evidence of FNMC’s ongoing commitment to update our product range to ensure customers have access to highly competitive deals. The new ‘low start’ deal, comes hard on the heels of the launch of the enhanced Remortgage Cashback product and the extension of our Fresh Start range.”
