Stafford Railway Building Society has launched a range of two-year discount mortgage products for residential customers, including its lowest ever discounted deal.
The two-year discounted deal available up to 60 per cent loan-to-value has an initial pay rate of 1.55 per cent. At 75 per cent LTV the rate is 1.65 per cent and at 90 per cent LTV it’s 2.10 per cent.
The two-year deals at 60 per cent and 75 per cent LTV both have a product fee of £399 and are available for purchases, remortgages and capital raising. The 90 per cent LTV product has a product fee of £299 and is available for purchases only. The products all revert to the society’s standard variable rate after two years, which is currently 3.45 per cent.
All three discount products are available throughout England and Wales. The society also allows overpayments of up to 10 per cent of the opening balance each year.
Stafford Railway has removed all three-year discount products.