Brokers now have access to an 80% LTV at a 3.75% (APR 5.2%). It is also fixed for five years, which is ideal for customers who would prefer the reassurance of knowing their mortgage payments won’t change every month by securing their rate for a medium to longer term.
The product also comes without a completion fee potentially saving hundreds of pounds in the initial costs.
Steven Marks, Corporate Development Executive at NIS, said:
“Many brokers will have discussions with clients around when interest rates will rise, as a lot of commentators are too. It makes sense for those clients who prefer the security of knowing what their monthly payments will be, to fix now. For many, five years gives them the comfort they need, which will help with their household budgeting.
“This is a very competitive product in the intermediary marketplace and something that those with a larger deposit will hopefully be attracted to.”
