The Loughborough launches 2-year fixed rate product

Michael Lloyd

January 6, 2020

Loughborough Building Society has launched a 2-year fixed rate product to its 5.5 times income multiple proposition.

It has a rate of 2.99% and a £999 completion fee.

The society was already offering a 2-year discounted variable rate available at 2.45%.

Both products have a maximum LTV of 85% and maximum loan of £750,000.

Ashley Pearson, business development manager at Loughborough Building Society, said: “I’m pleased to say that after considering the feedback we’ve had from our intermediary panel, we’ve now got both a fixed and discounted option available in this lending segment.”

Borrowers will still need to demonstrate their ability to afford the mortgage in order to borrow up to 5.5 times their income.

The minimum income of the applicant(s) must be £50,000 for sole applicants and £75,000 for joint.

Sign up to our daily email