The range, launched in partnership with Kensington Mortgages, is aimed at attracting clients who are looking for some certainty in their payments as interest rates continue to rise.
Sian Brown, national sales manager at Trustguard, said: “Successive rises in the Base Rate have meant that there are an ever increasing number of borrowers looking to either lock into a competitive rate, or switch from a tracker to a low fixed rate deal. These products have been purposely designed with them in mind and we are expecting a lot of interest from intermediaries.”
The two and three-year fixed rates have no overhanging early repayment charges and a completion fee of £1,995, which can be added to the loan – even if it goes above the maximum loan-to-value (LTV).
The two-year fix is available at 5.89 per cent up to 65 per cent LTV and 6.25 per cent up to 90 per cent LTV, while a three-year fix is available at 5.55 per cent up to 65 per cent LTV or 6.10 per cent up to 90 per cent LTV.
For adverse customers, the range allows up to £1,000 of satisfied or unsatisfied CCJs, rent arrears or one loan arrear in the last 12 months.
Mike Fitzgerald, sales director at Brentchase Financial Services, commented: “We are seeing people buy into fixed rates and maybe they have some way to go, but we are not seeing a big push from our clients who like flexibility. There are a few more first-time buyers in the market at the minute though and a lot of them are going for three-year fixes.”
find the latest industry jobs
get the daily news delivered to your inbox
