Cambridge BS launches two-year discount at 2.99%

Cambridge Building Society is launching a two-year discounted mortgage via intermediaries.

The deal has a rate of 2.99%, a reduction of 1.60% from its current 4.59% standard variable rate, and is available up to 80% LTV.

It comes with a 1.25% application fee, which must have a minimum value of £1,499 and can be paid upfront or added to the loan subject to the overall LTV limit.

Carole Charter, marketing manager at the Cambridge, says: “This discounted product is limited and we are expecting high volumes of business.

“We are continuing to look at how we can provide the best products and services to intermediaries and this product comes at a time when competitive rates are as important as providing a good service.”