An initial rate of 4.79% PA is discounted by 2% from Universal’s Standard Variable Rate (6.79% PA), which is guaranteed for the first two years. This will be followed by the Society’s Standard Variable Rate for the life of the loan. The overall cost for comparison is 6.9% APR.
The new mortgage also offers daily interest, up to 90% loan to value, valuation fee paid up to £200 and no application fee, plus the option to use Universal’s new Fasttrac re-mortgage transfer service, making it a great mortgage deal.
Kevin Robinson, Universal’s Chief Executive, said: “We are continually developing new products to offer customers, both new and existing, good value for money, so they can step closer to getting their dream homes. This discounted mortgage is an attractive option.
“We have experienced record lending this year thanks to the value for money we offer borrowers.”
