The product is fixed at 4.94 per cent until 30 April 2008.
Mortgage Intelligence will pay members a bonus of £50 for all cases packaged at this rate. Applications should be submitted to Mortgage Intelligence and will be packaged by the Prime Packaging Department.
An early redemption charge of 6 per cent applies throughout. It has a maximum loan-to-value (LTV) of 85 per cent.
The arrangement fee (which can be added to the loan) is £699 and reverts to ‘three month’ LIBOR + 1.75 per cent.
This product is available to both private individuals and limited companies and comes with a rental calculation of 125 per cent at 5 per cent.
Sally Laker, managing director at Mortgage Intelligence, said: “Despite the recent increase in interest rates we have managed to secure a very competitive fixed rate of 4.94 per cent which is a great deal for borrowers especially with the threat of a further rate increase on the horizon. This coupled with the £50 bonus makes for a compelling package.”
