The new three-year discount remortgage combines a three-year discount of 1.54% off The Derbyshire standard variable rate with the waiving of fees and charges. The current rate is therefore 4.15% (5.5% APR). A key feature is that borrowers can repay up to 20% of their capital each year without having to pay any early redemption charges.
Nick Williams, head of marketing at The Derbyshire, said: “There is currently a lot of activity in the UK remortgage market and we are confident this new product will prove very attractive for borrowers looking to switch from their current lenders. As this remortgage has no fees, we have made it quick and easy to apply for. That, combined with the three-year discount rate and the ability to reduce the loan through 20% capital repayments each year, is set to appeal to many people looking for a great, all-round value remortgage.”
