The new offer will be exclusive to intermediaries giving customers a discount of 0.46% off the long term rate. This will mean a discounted rate of 5.24% for loans of <=85% LTV or 5.74% for loans of >85% LTV for 12 months.
Caroline Marsh, sales director, commented, “This 12 month discount will make the Flexible Mortgage Option the leading fully flexible product in the remortgage marketplace - with no arrangement fees or redemption penalties, up to 99% LTV and no higher lending charge. If you factor in the level of service that we provide, we believe that our package is unrivalled.
“Intermediaries told us that a longer term discount will help them to increase the volume of flexible mortgages they could sell, so that’s what we’ve done. The immediate benefit for clients is that the discount will enable them to get a headstart in repaying their mortgages by being able to afford to overpay from day one.”
The new discount deal will be available on all sourcing systems from 24 January and will be promoted to intermediaries via a trade advertising and direct mail campaign.
