Sesame and PMS have launched an exclusive fixed-rate product for the network’s appointed representatives and mortgage club members, via Skipton Building Society.
The deal is for customers with up to 85 per cent loan-to-value, priced at 2.25 per cent fixed for two years, with a free standard valuation for customers. It also has no upfront booking or arrangement fees.
Rob McCoy, senior product manager at Sesame Bankhall Group, said he expected the new product to be popular with members and their customers.
Mr McCoy said: “I do not expect it to be available for long.”
Skipton’s director of intermediary relationships Paul Darwin added: “We believe this further demonstrates our commitment to meeting the real-life lending needs of our customers while supporting the intermediary market.”
David Hollingworth, associate director of communications at London & Country Mortgages, said it was good to see lenders designing products specifically for their intermediary partners to ensure they are meeting the needs of their clients.
“This product doesn’t carry the very lowest fixed rate on offer at 85 per cent LTV, but it importantly balances the rate and fees to come up with a very attractive all-round package.
“Borrowers are increasingly aware that fees can really mount up and given all the other costs of buying a new home are keen to look for good overall value rather than simply being drawn to a low rate.”