MarketPlace launch 2 year discount

The MarketPlace at Bradford & Bingley, has launched a 2 year stepped discount mortgage funded by Bristol & West.

The product has an initial pay rate of 2.95%. Key features include:

o 3.00% discount until 31/10/03

o Followed by 0.75% discount until 31/10/04

o £300 cashback

o Maximum Loan to Value of 95%

o Free valuation

o No extended tie-ins beyond discount period

David Bitner, mortgage technical manager for the MarketPlace, says: “This is a very competitive product that is great for first time buyers as it offers a big discount in the first year, when finances are often tight. It also gives £300 cashback and a free valuation, which saves a few more crucial pounds and is available on an income multiple of 4 times one salary and 1 times another.”