We've secured another new mortgage deal exclusively for our members.
The two year fixed rate has a maximum Loan to Value (LTV) of 90%, making it ideal for those with smaller deposits or with less equity if remortgaging.
The two year fixed rate is 3.79%, fixed up to and including 30 June 2016, reverting to a standard variable rate of 5.69% (currently) for the remaining term of the mortgage. The overall cost for comparison is 5.5% APR. A booking fee of £199 is payable on application and is non-refundable. The product arrangement fee of £500 is also payable on application but is refundable should the mortgage not complete. A redemption fee of £199 will apply. There is also no higher lending charge.
The deal is available on loans of up to a maximum of £400,000. If you want to overpay to reduce the term of your mortgage, 10% capital repayments are allowed each year without incurring an early repayment charge. Tapered early repayment charges apply up to and including 30 June 2016. The tapered early repayment charges are 3% of the amount redeemed in the first year and 2% in the second year.
"Competitive rates and high LTV"
Adam Smith, head of mortgages at Police Mutual, said: "We're delighted to offer another exclusive mortgage deal for our members, which isn't available on the high street. The rates are competitive and the high LTV makes it appealing to those without a large deposit."
Our mortgage advice service searches the whole of the mortgage market to find the right deal for your circumstances. If you're interested in this exclusive deal or would like to find out more about how we can help you, call us 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.comments powered by Disqus