This will give borrowers the option of having a 0.45 per cent cheaper deal in return for a 1.5 per cent arrangement fee (minimum fee £1500)
The discounted fixed rates start from 4.85 per cent and are 0.45 per cent cheaper than equivalent products available on Mortgages plc’s core range (which carry an arrangement fee of £599). The fixed rate option is available across Mortgages plc entire product range, including non-conforming and higher lending charge free mortgages.
Pete Thomson, sales director at Mortgages plc, said: “Demand for fixed rates remains high and with the markets anticipating a possible Base Rate increase in the near future, many borrowers are looking to lock into fixed rates while there are still good deals to be had.
“This two year fix has been designed to give borrowers choice. They can either choose from our standard range and pay an arrangement fee of £599, or opt for one of the two year fixes with a rate which is 0.45 per cent cheaper, and pay an arrangement fee of 1.5 per cent. It is clearly up to intermediaries to recommend the most suitable deal based on their clients’ circumstances.
“Feedback has been excellent. I’m sure these products will sell well.”
