The new product is a bank base rate tracker at 0.50% above BBR for the term of the mortgage and with the latest drop in the Bank of England base rate, it gives a current pay rate of just 4.00% and has no early redemption fees and is available for both purchases or remortgages up to a maximum 90% LTV.
John Lee, head of sales & marketing at Genesis Home Loans, said, “We are delighted to be able to offer this product to our intermediaries as it represents real value for the client, with a low, long term rate and no early redemption fees, plus free legals and valuation. With such a good deal on offer we are sure that it will be very popular amongst brokers and their clients, but with a limited tranche of funds available it may not last long.”
