Mortgage Next launches exclusive fix

The new product is priced at 5.66 per cent and is available to 90 per cent LTV. It is available exclusively via Mortgage Next Partners and Mortgage Next Network.

Product details are as follows:

• Rate of 5.66 per cent, fixed until 2 January 2010
• Revert rate: SVR, currently 7.84%
• Booking fee of £999 (can be added to the loan)
• Max LTV of 90 per cent
• No higher lending charge
• Maximum loan of £500,000
• Redemption charges at 3 per cent of the outstanding loan
• Procuration fee: 0.35 per cent net

Justine Tomlinson, managing director of Mortgage Next Partners, said: “There is no doubt that two-year fixed rates remain incredibly popular with borrowers and this deal represents fantastic value. The rate of 5.66 per cent is highly competitive, especially in today’s market where so many fixed rate deals are being pulled by lenders. We’re delighted to have secured this exclusive deal with Abbey and have no doubt it will be a best seller.”

Brokers requiring further information about products and services available from Mortgage Next can phone 01883 333100 or visit the company’s website at www.mortgagenext.co.uk.