Key features include:
· Maximum LTV 60%
· Interest calculation APR 6.7%
· Minimum loan £25,001
· Maximum loan £750,000
· No extended tie ins
· Fixed period until 1 January 2007
Mark Chilton, CEO of Purely Mortgages, comments: “Following five base rate rises since November 2003, we understand that borrowers will be looking for stability in a volatile market. Our launch product is particularly good for people who have secured a substantial first deposit, or those who have built up equity in their homes over the past few years and are looking to remortgage.
“Purely Mortgages 2 year fixed is one of the leading products on the market and it makes perfect sense to fix now as the base rate would have to fall to below 3% for the average SVR to beat 4.79%.”
Purely Mortgages never charges fees for its advice.
