Jeff Kirk, corporate relationship manager, said: "This product allows clients to fix their payments at a rate which is significantly lower than any other three-year fixed rate in the market and 0.26 per cent below base rate. It is available up to 80 per cent loan-to-value, provides flexibility by allowing 10 per cent capital repayments each year without penalty and there is no higher lending charge.
"Clients can also add the completion fee to the loan and this, combined with the low rate, allows clients to keep their monthly payments to a minimum and provides the peace of mind associated with certainty of payments. Typically, other providers who charge a percentage completion fee do so over a shorter period. Therefore, when it is divided by the product term, this fee works out at a lower pro rata cost and provides locked in value over a longer period."
