Mortgage Next launches 3 year fixed rate

The semi-exclusive product is funded by Abbey and has the following features:

§ Rate fixed at 4.69% until 02/02/12. APR 5.5%

§ At the end of the fixed rate period the borrower will revert to Abbey’s SVR – currently 5.44%

§ Available up to 60% LTV for purchase or remortgage

§ Total booking fee of £495

§ Maximum loan of £550,000

§ No Higher Lending Charge

§ Early redemption Charge of 3% during the fixed rate period

Gemma Harle, Managing Director of Mortgage Next, said: “Many borrowers value the certainty which comes with a fixed rate and this product is competitively priced at 4.69% for 3 years and a fee of just £495. I have no doubt this will be an extremely popular product during a period of such economic turbulence.”

Brokers requiring further information about products and services available from Mortgage Next can phone 01883 333100 or visit the company’s website at www.mortgagenext.co.uk.