Catholic launches fixed product

The Catholic has released a one-year fixed product for new purchases and remortgages.

The Issue 1 mortgages, a one-year fix, has an initial interest of 2.9% for the first 12 months, then gives a discount off the SVR of 0.75% in years two and three.

This includes free valuations and free legals for remortgages.

There is a maximum loan of 550,000, with a maximum LTV of 80%.

James Gilbourne, chief executive of the Catholic, says: This scheme offers certainty for people wanting to fix their payments but also gives a highly competitive rate after 12 months.

“It is ideal for many people, especially those who have other pressures on their finances this year.

We look after our borrowers for life and this product means they may never need to look for another mortgage deal again.