The product has a pay rate of 3.64% (5.0 % APR). Key features include:
- Bank Base Rate +0.14% for 2 years
- Reverts to Bank Base Rate +1.50% for term
- Max LTV 90%
- No arrangement fee
- Free valuation and free legals
- Early redemption charge of just £500 in first 2 years
- Flexible features
- Ability to drop-lock into any Woolwich fixed rate product at any time
David Bitner, spokesman for the MarketPlace, comments: “With the remortgage market currently extremely buoyant, The MarketPlace has launched this deal that offers fantastic value with its fees free package. As well as having no arrangement fee, a free valuation, free legals and no MIG, the mortgage is also fully flexible, allowing underpayments, overpayments and payment holidays.
“For those with a 10% deposit, which many remortgagers will have due to the growth in house prices over the last few years, this product represents great value. In addition, the product does have a drop-lock facility. This means borrowers are able to transfer into a Woolwich fixed rate product at any point should they wish to.”
