Mortgage providers offer two-year deals
Three lenders have refreshed their ranges of two-year fixed-rate products.
Precise Mortgages, Virgin Money and NatWest Intermediary Solutions have claimed they were supporting homebuyers looking for certainty and more value in their mortgage payments.
Precise Mortgages two-year fixed rate
Charges: 3.49 per cent and £995 fee
Loan-to-value: up to 80 per cent
Virgin Money two-year fixed rate
Charges: 3.35 per cent and no fee
LTV: Up to 70 per cent
NatWest Intermediary Solutions two-year fixed-rate
Charges: 2.85 per cent and £995 fee
LTV: 60 per cent
IFA Verdict:
Jane King, adviser for London-based Ash-Ridge, said Precise was a “generous lender” but said some products were only available for certain postcodes in the south of England. She said the NatWest product had a good rate but she would be put off by the “chunky fee”.
Ms King said she would recommend the Virgin Money product. She added: “This is another lender trying to take the least-risky business with good rates for low LTVs. Rates are good and the option for fee-free rate is always good news for applicants with smaller mortgages.”
However she warned the attractiveness of each of the products would come down to the affordability criteria used.