Lambeth Building Society has reduced the rate on its two-year discount mortgage and introduced a new fees-free remortgage product.
Lambeth has reduced the interest rate on its two-year discount mortgage from 3.75% to 3.69%.
Product features, which remain unchanged, include no extended tie-ins or redemption penalties after the first two years, maximum 95% LTV and an overpayment option. The deal includes a £95 application fee and £200 reservation fee may be added to loans on completion.
Lambeth has also launched a two-year fixed rate fees-free remortgage product at 4.38% until February 1 2005. The deal is available for loans between £25,001 and £500,000, available up to a maximum 75% LTV, with no application or reservation fee and no MIG. A £200 cash.back towards solicitor's costs is available with the valuation fee refunded on completion.