The deal, funded by Alliance & Leicester, has a competitive initial pay rate of just 3.39% (5.3% APR).
Key features include:
* Initial pay rate of 3.39%
* Discount of 2.15% from SVR for two years
* Maximum LTV of 95%, MIG free to 90%
* Flexible features include payment holidays, underpayments and drawdown
* No extended tie ins
* Refund of valuation fee and £250 cashback
* Lump sum repayments accepted without penalty
Commenting on the new product, David Bitner, head of product operations for The MarketPlace, said: "With speculation that interest rates might be on the rise in the imminent future, now is good time for home-owners to remortgage. This deal, as well as having a competitive discount rate of 3.39%, has a refund on valuation fees, £250 cashback and an arrangement fee that can be added to the loan, so offers a low cost remortgage.
"In addition, the product is highly flexible, allowing for payment holidays, underpayments and overpayments."
