The product is available just through all 350 Sequence estate agents for remortgages only. There is a no fee for valuations for mortgage purposes and the customers also get free use of the Society’s Fast Track free legal service. There’s no extended tie-in but just an early repayment penalty of 5% of the amount repaid early prior to 1 February 2005. The £250 arrangement fee can be added to the mortgage on completion and loans are limited to a maximum of 90% LTV.
Announcing this new product, Kevin Joyce, intermediary business manager at the Staffordshire, said, “This is the first product that the Staffordshire has done exclusively for Sequence but we’re very impressed by their distribution capability. We’re seeing more and more customers wanting fixed rates so this exclusive product should prove really popular.”