Funded by Bristol & West, the Aggregator allows borrowers to take advantage of current low variable rates and simultaneously protect against any increases to rates, as the other half of the mortgage is fixed at 5.65 per cent for five years. This gives an initial rate of 5.33 per cent
"With bank base rates currently at their lowest for almost 50 years, people are keen to take advantage of the low variable rates on offer," commented Justine Tomlinson, director of marketing for Mortgage Next. "However such rates are predicted to rise later in the year; fixed rate offers may be a more attractive prospect in the long term. Increasingly, consumers are looking for flexibility to repay part of their mortgage at an earlier date, and the redemption free element of this product enables this to happen. The Aggregator Mortgage offers homebuyers a ‘best of both worlds’ arrangement."
