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Britannia launches five-year fixed rate product

Britannia is launching a new five-year fixed rate mortgage at 5,14%.

The product has a maximum LTV of 95%, a 399 arrangement fee and a 100 administration fee. Standard valuation and conveyancing fees apply.

In addition, Britannia has launched a new remortgage package. A five-year fixed rate remortgage package with a rate of 5.34%. This product again has a maximum LTV of 95% with a 399 arrangement fee. Customers can move their mortgage to Britannia with no administration fee, a free first standard valuation and a free conveyancing service, including compulsory disbursements.

Tim Franklin, managing director of member business at Britannia, says: “Now is good time for borrowers to consider the security of a fixed-rate mortgage following the recent rate increase and speculation of further increases. This removes uncertainty of rate rises and ensures a great rate for five years.”


Cost of remortgaging over 1,000 says Abbey

Abbey estimates that the average upfront cost of remortgaging to a new deal can be around 1,100 including booking and valuation fees. Assuming a borrower were to remortgage 12 times during the course of their mortgage, they would be paying 13,596 in fees in their lifetime. However, brokers can help borrowers to reduce up-front costs […]

CHL launches system to offer online DIPs

CHL Mortgages has launched an online mortgage application service which provides intermediaries with an online decision in principal. Mike Healy, head of sales at CHL, says: “We now have in place a totally paperless application procedure. As soon as the application is complete it is uploaded into the mortgage processing system. Once brokers press the […]

TMP appoints consultant

The Mortgage Partnership has appointed an inhouse mortgage consultant. Mark Kennedy, who previously worked at Northern Rock, is now based at the enquiries desk at TMP’s principle office in Wirral.

Will new lenders’ technology result in the death of building societies?

Roger Morris is managing director of em-financialThe mortgage industry should be aware of how new technology will change things. Building societies need the ability to recognise this development and leadership that understands the speed of change and can invest in technology to compete. But most are far too institutionalised and cocooned in their own worlds […]


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