Sesame and PMS are offering a new 5-year fixed rate mortgage.
The product, available through representatives of Sesame Bankhall Group’s network is being administered by Leeds Building Society.
The mortgage is on offer at a rate of 2.19% fixed for 5-years and includes a free standard valuation for customers (for properties up to a value of £2m).
There is no up-front booking fee and the arrangement fee is £599, payable on completion.
Remortgage customers also benefit from a fees assisted in-house legal service. The product is available up to 75% loan to value.
Rob McCoy, senior product manager at Sesame Bankhall Group underlined the importance of ensuring launching :
“Our members have been telling us that they have been sourcing more long-term deals of late, and this will be amongst the most competitive products in the market. The five year rate will appeal to borrowers looking for the security of fixing their mortgage repayments to a competitive rate, especially during this time of economic uncertainty. The combination of the low rate, low arrangement fee and the fee incentives will make it a popular choice with our members.”
Matt Bartle, head of product and pricing at Leeds Building Society, added: “Borrowers are increasingly looking for longer-term fixed rate deals to take advantage of the current low mortgage rates so we’re pleased to be able to offer this competitive product. The incentives are an added attraction, particularly for homeowners looking to remortgage.”