AToM and Hanley Economic launch capped rate

The rate is 3.34% with a cap of 5.99% and it has a 75% LTV.

The rate represents a 1.85% discount off the society’s standard variable rate until the 31st August 2015, and is guaranteed not to rise above 5.99%.

The offer, which is not subject to credit scoring, is available on purchase and remortgage deals for loans up to £500,000 with a loan to value up to 75%. There is an £899 arrangement fee and an early repayment charge of 2% until the 31st August 2015. A booking fee of £100 is payable on application.

The deal replaces the 2-year 3.59% discounted product previously available from Hanley Economic.

Dale Jannels, sales and marketing director at AToM, said: “The Hanley Economic has a particularly flexible and positive approach to the mortgage market and this latest product launch offers a long term discounted product with the security of a cap on the interest rate.

“Also, on remortgages, legal fees up to £250 are paid and they do not credit score."