New mortgage deals for our members
We've got two great new mortgage deals for our members.
We're bringing two great new mortgage deals to our members, a two year fix and a three year discount.
The two year fix is an exclusive for us and charges 3.89 per cent interest. It has low fees; £195 for arrangement and £295 on completion. The maximum Loan to Value (LTV) is 90 per cent. It's for house purchases only (not remortgages), and excludes new builds. The overall cost for comparison is 5.5 per cent APR.
The three year discount mortgage is fee-free and charges an initial 2.95 per cent interest. It's exclusive to Police Mutual and two mortgage clubs. For purchases and remortgages, it's available at up to 80 per cent LTV. There are no arrangement or completion fees. The overall cost for comparison is 4.9 per cent APR.
For both mortgages there is a free valuation for properties worth up to £1 million and no ERCs (Early Repayment Charges) or higher lending charge. After the special deal period the mortgages revert to the Lender's Standard Variable Rate, currently 5.64 per cent, for the remainder of the term.
Adam Smith, our head of mortgages, said: "We're delighted to bring these two mortgages to our members. They are both very competitive deals, with exclusivity for Police Officers and their families. These deals are not available on the High Street."
Our mortgage advice service searches the whole of the mortgage market to find the right deal for your circumstances. Talk to our team on 0800 032 5333.
Your home may be repossessed if you do not keep up repayments on your mortgage.
For members, Police Mutual provides free mortgage advice and receives a commission from the mortgage lender which we use to fund this service. The fee payable by non-members is £300 but this will be waived if you take out any Police Mutual Group product during the process.