The mortgage tracks the Bank of England Base Rate minus 0.20 per cent for the first year and Base Rate minus 0.10 per cent for the second year. It then reverts to Base Rate plus 1.50 per cent for the life of the loan.
Openplan flexible features
Purchases: Loan to Value (LTV) up to 95 per cent
Remortgages: LTV up to 90 per cent
Arrangement Fee: £395
Minimum loan size £200,000
Option to pay down 10per cent per annum penalty free.
Early redemption penalties: 6 months interest at tracker rate for 2 years. Daily Interest.
Commenting on this offer, Simon Jones, Director at SPF, said:
“We are delighted to offer this exclusive and highly competitive deal which is available to both potential buyers or those looking to remortgage their existing property. The great advantage of this product is the built-in flexibility of this product.’’
