The two year mortgages are priced at 3.39% (BoE + 2.89%) and the three year mortgages are 3.59% (BoE + 3.09%). Both ranges have a minimum rate of 3% and 3.09% respectively, but are capped at 5.39% and 5.59% and are available for house purchase and remortgage. Full details are contained in the attached appendix.
Remortgage versions have free legal service and valuation options and all products have an application fee of £995. Further products are available for existing customers and additional advances.
Tom Girling, Mortgage Product Manager at the Society commented "We have offered a cap on these new mortgages to protect customers if there should be a steep rise in interest rates during the term of the mortgage. By combining a cap, a competitive rate and a sub £1k application fee we believe that these products offer the best combination of value in the market."
