With swap rates remaining high there are only a handful of 2-year Self-Certification discounts with a pay rate below 5% available. Furthermore, the product has a low arrangement fee bucking the trend of low rate high fee products being released.
The exclusive will be available via two of Mortgage 2000 distribution channels, namely m2-mortgage club or m2-d&p. m2-mortgage club has a direct to lender panel and can be accessed by any intermediary without pre-registration. In this case, an introducer fee of 0.42 per cent with a minimum fee of £200 and no maximum is available on directly submitted business. Alternatively, m2-d&p will also pay an introducer fee of 0.45 per cent min £200 and again no max, which gives intermediaries a choice of application route.
Key facts:
- A rate of 4.99 per cent (Bank Base Rate (BBR)+ 0.49 per cent) for two years
- 85 per cent loan-to-value (LTV)
- Self-certification status
- Free Higher Lending Charge
- No extended tie-in
- No redemption overhang
- £495 Arrangement Fee
