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.”