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Britannia drops rates on three-year fixes

Britannia is reducing the rates on its three year fixed-rate mortgages by up to 25 basis points.

Available from Friday, rates will be available from 3.99%, up to 60% LTV, with a £549 arrangement fee.

Tim Franklin, managing director of member business at Britannia, says: “Britannia never offers better deals to new customers as we prefer to reward membership. Our members always come first, so it’s only fair that we offer our lowest rates to our existing, loyal members.”

The Society has also reduced the rates on its three-year fixed-rate mortgages for new customers by 20 basis points, with rates now starting at 4.24%, on a 60% LTV with a £549 arrangement fee.

The latest cuts follow the recent introduction of a new 15 year fixed-rate mortgage from Britannia.

The long-term fix allows customers to review the product every three years when they can switch to another Britannia mortgage, overpay by any amount, or redeem without charge.

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