The Base Rate Tracker is at a rate of 1.80% above the Bank of England Base Rate until 30th June 2016 (current pay rate 2.30% (APR 5.5%)). It is available at a max LTV of 80% and is ideal for those who want to capitalise on the low interest rate environment as much as possible.
Additionally, NBSIS has launched a range of fees free products. Firstly, an 80% max LTV product is available at 2.98% (APR 5.5%) fixed until 30th June 2016, which would predominately suit those customers re-mortgaging or who have a larger deposit. Additionally, there is a 95% max LTV product, perhaps more suited to first time buyers or those with a small deposit. This product is fixed for two years at 5.39% (APR 6.1%).
Alternatively, for those looking for a 95% LTV product but are more conscious of a potential Bank of England rate rise, they can lock in for longer with the Society’s 5.49% (APR 6.0%) Five Year Fixed Rate deal.
All the new mortgage deals above are available to first-time buyers, home movers and remortgage customers.
Steven Marks, Corporate Development Executive, at NBS said:
“We have reassessed our entire mortgage range for our brokers and have introduced products that are even more relevant to what their clients are asking for.
“The range allows us to cater for those that can capitalise on the low interest rate environment with a tracker product. Or there are the products that support those who do need the reassurance of the same monthly repayments, which our fixed rated products can bring.
Additionally, the fees-free element allows borrowers to free-up extra cash, at a time when things can be strained financially during the home move.”
