Interest payments are currently at 5.00 per cent, but at the end of the three years the interest rate will continue to track the base rate at 1.75 per cent above the rate.
The mortgage is available to both self employed and employed customers. There are no requirements to verify income and no phone calls will be made to accountants or employers.
Loans are available up to 75 per cent loan to value (LTV) and may be used for purchase and remortgages. In addition, there are no overhanging redemption charges and no acceptance fees.
However, early redemption charges apply within the first three years of the loan, at five per cent of the amount repaid during the first 24 months and four per cent in the next 12 months.
