The 2.94% (5.7% APR) is fixed until 31st March 2015 and is available at a max LTV of 80%. While for those borrowers wanting to save some cash upfront, the fees-free product at 3.47% (5.7% APR) may be suitable for them. Again, that product is available at a max LTV of 80% and fixed for the same period.
These deals are available on a semi-exclusive basis to L&G, First Complete, Pink, Openwork, Positive Solutions, Intrinsic and Brilliant Solutions.
Product information:
2.94% (5.7% APR) Fixed Rate until 31st March 2015
- £800 Completion Fee (where loans exceed £500k the completion fee will be 0.30% of the advance amount)
- £195 Reservation Fee (payable upfront and is non refundable)
- Max LTV 80% (inclusive of any fees added to the loan)
- Minimum Loan £10,000
- Maximum Loan £1,000,000
- 3% of amount repaid on or before 31st March 2015
3.47% (5.7% APR) Fixed Rate until 31st March 2015
- No Completion Fee (where loans exceed £500k the completion fee will be 0.30% of the advance amount)
- No Reservation Fee
- Free Standard Valuation (on properties up to and including £500k)
- Free Legal Fees (on re-mortgages on properties in England & Wales only) or £300 Cashbback
- Max LTV 80%
- Minimum Loan £10,000
- Maximum Loan £1,000,000
- 3% of amount repaid on or before 31st March 2015
The rate on both products reverts to the Society's standard variable rate (currently 5.99%) from 31st March 2015 for the remainder of the mortgage term.
Steven Marks, Corporate Development Executive, said:
“The two-year marketplace is very popular at present as many borrowers still look for certainty with their mortgage payments, but may not want to lock-in over the longer-term. This is why the two-year fixed for many is a good option and also why it’s important for us to have such products within our range.
“Additionally, we regularly review our product portfolio to ensure we offer the most competitive products we can and the rate reduction is a reflection of that desire.
NIS believes these products will help those borrowers looking to remortgage or move along the ladder or perhaps even for those first time buyers with a large deposit.
