Manchester launches new mortgage deals
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Manchester Building Society has launched a number of fixed rate and buy-to-let deals and cut some of its fees.
A new three-year fixed rate for purchases only has been launched at 4.39%, up to 85% LTV with an arrangement fee of £995.
There is also a 4.64% three-year fixed remortgage version, again up to 85% and with a £995 fee.
The remortgage version provides a refund of the valuation fee and a free standard legal service. Capital raising is permitted for the purpose of home improvements for clients who wish to ‘improve, not move’.
Its buy-to-let one year discount range has had its arrangement fee slashed to £495, with a maximum 70% LTV available and rates starting at 3.74% variable.
For landlords seeking the security of a fixed rate mortgage, four new buy-to-let products have been added.
A three-year and a five-year fixed rate for purchase only, both fixed at 4.99%. The three-year fixed has a low £995 arrangement fee and the five-year fixed has a 2.5% fee.
The remortgage options for three and five years are both fixed at 5.24%, with the same arrangement fee structure. The maximum LTV is 75% on the three-year fixed and 70% on the five-year fixed. The five-year fixed rate remortgage product also includes an incentive package.
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