The deal is available up to 90% LTV, .
The product has the following features:
- 2 yr discount from Bank Base Rate + 1.99% (currently 6.49%):
- 1.41% discount to 75% LTV (currently 5.08%)
- 1.31% discount to 85% LTV (currently 5.18%)
- 1.21% discount to 90% LTV (currently 5.28%)
- No overhanging early redemption charges – ERC’s of 5% of the amount being repaid, during the first 2 years. 1 month’s notice or 1% thereafter
- Free legal fees for remortgages in England & Wales only
- Completion fee of £549
- Proc fee of 0.6%
Colin Snowdon, Managing Director at Freedom Lending, said: “Freedom Lending has worked closely with Mortgage Choice to develop this new product. Two year discounts have proven to be very popular and I have no doubt this self-cert product will sell well.”
Doug Hall, Sales Director at Mortgage Choice, said: “We’re delighted to be launching this product on behalf of Freedom Lending. As well as the competitive discounts on offer, the free legals and lack of overhanging ERC’s will be a real winner with brokers. The self-cert market remains very strong and I’m sure this product will be a hit.”
