New competitive mortgage deals to help homeowners through the tough housing market
The Loughborough Building Society has held its Standard Variable Rate (‘SVR’) and, to support UK’s homeowners and first-time buyers seeking greater choice, has released a new range of competitive fixed rate and discount mortgage products.
Three new products have been added to The Loughborough’s range which, along with the Society’s personal underwriting process, ensures customers are given the best chance of finding a mortgage that suits their individual needs.
Two of the products are three year fixed-rate mortgages; the first offers a 3.15% fixed pay-rate featuring a 75% maximum LTV. The second provides a 4.25% fixed pay-rate for loans up to 90% LTV to help those who have a 10% deposit.
These new products complement the Society’s current range of competitive fixed rate options, which include an attractive five year, 4.24% fixed pay-rate with a maximum LTV of 80%.
The third brand new deal is a two year, 2.69% pay-rate discount product for customers considering re-mortgaging, and features a maximum 75% LTV. The product also benefits from having a legal fee incentive and a refund of valuation costs upon completion up to £200, providing a further incentive for homeowners looking to switch mortgage providers for added value and greater savings. The new product complements the Society’s existing range of highly competitive discount mortgages,
Some of the Society’s mortgages already feature in the national best buy tables and are highly competitive against larger banks and societies. The new three year, 4.25% fixed-rate featuring a very competitive 90% LTV mortgage, and new two year discount, pay rate 2.69% featuring a 75% LTV product are currently featured in the best buy tables.
Gary Brebner, CEO of The Loughborough, says “Given the fierce competitiveness of the market and our on-going commitment to provide our members with the best loyalty deals, there are no plans to increase the Society's standard variable rate. Although our range offers something to suit every potential and existing mortgage customer, the introduction of additional new products, some with incentives on legal and valuation costs, have been specifically designed to provide those looking to re-mortgage from their current provider a compelling reason to switch to the Society.”
For more details of The Loughborough’s new competitive mortgage deals and products, customers can visit their local branch or telephone the Mortgage team on 01509 631950. The Society’s professional and friendly mortgage team will be available to talk through the best options available.
All mortgages are suitable for existing homeowners, first-time buyers and people wishing to switch mortgage providers.