This will knock years off the life of their mortgage and save them money.
The variable rate payable is 4.34%, which is capped at 0.95% above The Bank of England Base Rate for the term of the mortgage. It is available on loans of up to 80% LTV. Interest is calculated on a daily basis.
The mortgage is flexible allowing payment holidays, further borrowing and overpayments. There is no early repayment charge and no fees payable.
