The product is fixed at 5.79% until 31st December 2011 and is available up to 80% LTV. There is no arrangement fee in addition to free valuation and free legal fees, and the early repayment charge is reducing from 2% in year 1 to 1% in year 2.
Martin Reynolds, development director at PMS commented: “It is good to see some lenders venturing back into the market with higher LTV’s. This fee free product offers excellent value at 80%. I believe that this product should provide a useful addition to the broker’s product options.”
