The three-year fixed rate is available at an initial rate of 5.3 per cent and the five-year fix has a rate of 5.45 per cent.
The lender has also added flexible features which are available on all products during the fixed rate period. Overpayments can be made of up to £500 per month, underpayments, drawdowns and payment breaks can be taken.
Other key features include:
• Fully-refundable valuation fee on all products.
• Interest calculated on a daily basis on all products.
• No MIG or fees for high percentage borrowing.
• Existing borrowers get the lowest available rate on any LTV up to 95 per cent, on either the base mortgage rate (BMR), budget options or fixed rates.
• SVR is capped at 0.5 per cent above the BMR.
• BMR is guaranteed at no more than 2 per cent above the Bank of England base rate.
• No legal fees for remortgagors.
• No compulsory insurance.
Early repayment fees of 5 per cent apply for the five-year fixed rate in the first year. This falls to 4 per cent in the second, then 3/2/1 per cent in the final year.
Similarly, the three-year fix has repayment penalties of three per cent apply in the first year, then two per cent and one per cent in the final year.
