The deal, funded by Mortgage Express, has an initial pay rate of 3.73% and there is no MIG, no early redemption penalty, and the arrangement fee can be added to the loan.
David Bitner, mortgage technical manager for The MarketPlace, commented: "This market leader is an ideal product for first-time buyers. With no MIG, an arrangement fee that can be added to the loan and full flexibility, including overpayments, payment holidays, underpayments and drawdown, it offers borrowers the chance to enter the market with minimal opening costs.”
