Towry Law Mortgages launches fixed discount exclusive

Amanda Jarvis

February 19, 2003

The loan is one of the most competitive on the market at a fixed rate of 3.59% for one year, followed by a 1% discount for the second year giving borrowers the benefit of both worlds.

Secured lending has increased by 40% over the last year as increasing numbers of homeowners are seeking to capitalise on the lowest rate for a generation. The product from Towry Law Mortgages is ideal for people looking to utilise the value in their property for whatever reason and allows them access to a terrific rate without any early redemption penalties.

Key Features include:
* 3.59% fixed for year one
* self certification of income available
* no compulsory insurances
* discount of 1% to Standard Variable Rate (currently 4.75%) for a further year
* max LTV 75%
* ability to repay 10% of the loan in each fixed year penalty free
* MIG free
* free legal / valuation fees to £350

Steve Jones, Director of Towry Law Mortgage Services said: “Our new combined product is a fantastic product for our customers. Not only does it combine a market leading rate with a year's security but it ensures that the borrower pays under the market rate in year two as well.”

“We have seen borrowing increase dramatically over the last year especially in the remortgage sector, many customers have used the reduced interest rates to consolidate other debts and bring down their mortgage payments as well.”

Towry Law Mortgage Services provides customers with a tailored mortgage service that will provide borrowers with one port of call for all their mortgage needs (including surveyors, protection products, removals). As well as this and other exclusive deals, Towry Law Mortgage Services will provide independent advice covering the whole market.

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