The semi-exclusive product is funded by Abbey and has the following features:
§ Rate fixed at 4.69% until 02/02/12. APR 5.5%
§ At the end of the fixed rate period the borrower will revert to Abbey’s SVR – currently 5.44%
§ Available up to 60% LTV for purchase or remortgage
§ Total booking fee of £495
§ Maximum loan of £550,000
§ No Higher Lending Charge
§ Early redemption Charge of 3% during the fixed rate period
Gemma Harle, Managing Director of Mortgage Next, said: “Many borrowers value the certainty which comes with a fixed rate and this product is competitively priced at 4.69% for 3 years and a fee of just £495. I have no doubt this will be an extremely popular product during a period of such economic turbulence.”
Brokers requiring further information about products and services available from Mortgage Next can phone 01883 333100 or visit the company’s website at www.mortgagenext.co.uk.
