Summary:
- 2 & 3 year fixed rates reduced with effect from 11 July
- Rates starting from 5.8% - the cheapest non-conforming 2 year fixed rate currently on offer
- No early repayment charge overhang period
- Fixed rate periods start from completion, giving full 2 and 3 year fixed rate periods
- Free valuation on all products (not buy-to-let)
- Free legals on Fast Track & Heavy Adverse remortgages
Peter Beaumont, Sales & Marketing Director of Mortgages plc, said: “During the past couple of weeks our peer group has thrown down the gauntlet by re-pricing their fixed rate deals. Mortgages plc has responded with a range of new products, which once again confirms our position as one of the UK’s leading non-conforming lenders since our acquisition by Merrill Lynch last year.
“Fixed rates have become increasingly popular in the non-conforming market, as money market rates have fallen and borrowers seek the certainty which fixed rates offer. The products we are launching today are not only amongst the most competitive non-conforming fixed rate deals currently available, but they also offer a host of other benefits including true 2 & 3 year fixed rate periods, no overhanging ERC’s, as well as a free valuation and legals package. I have no doubt these products will be popular with networks, packagers, brokers and borrowers.”
