Very competitively positioned at Bank of England Base Rate + 0.99% for two years, stepping to Bank of England Base Rate +1.75% for life, the mortgage is squarely aimed at the increasingly widespread view that interest rates may not rise further but that any fall will benefit borrowers.
Jon O’Brien, Operations Director of the PMPA, said, “this is an exceptional rate that allows borrowers to enjoy lower monthly payments immediately and benefit from any future drop in interest rates. What’s more, with no redemption penalties, it’s also ideal for borrowers in the unlikely event that rates rise further.”
He continued, ‘‘Birmingham Midshires semi exclusive with the PMPA endorses the importance of the packaging community, and in particular the PMPA, in delivering good value mortgages to the market.”
