The deal funded by the Co-op Bank is capped at a rate of 3.99% (5.2% APR) and is MIG free to 95%.
Commenting on the product, David Bitner, head of product operations for The MarketPlace, said: "This mortgage is superb value for borrowers looking to make consistent low monthly payments, be they homemovers or existing borrowers remortgaging to a cheaper deal. It is not only the best 3-year capped rate on the market, but in addition offers borrowers a truly flexible deal. The product allows payment holidays, underpayments, lump sum withdrawals and the ability to repay up to 10% of the loan per year, penalty free. Combine all this with a free valuation, free legal fees and no MIG, the product really offers fantastic value for any potential remortgager out there."
