The product has a rate fixed at 4.99% (APR 6.7%) for two years and provides both purchase and remortgage customers with a free standard valuation, a saving in up front fees of between £230 and £730.
There is no overhang redemption penalty after the first two years and borrowers can also make overpayments up to £500 per month. The product is available up to 85% loan to value, is portable and can be used for capital raising. There is an arrangement fee of £330 and reservation fee of £75.
John Malone, Managing Director of Premier Mortgage Service said: “As one of Premier Mortgage Service founder lending partners, we are delighted to launch such a competitive Self-Certification product.”
Karen Hedges from Openwork added: “With so many lenders incentivising remortgage products at the moment, it’s refreshing to see a product with a free valuation on purchase business too, whilst at the same time giving customers a very competitive rate. I fully expect this product to be popular with our members.”
