New low rate mortgage from Scarborough BS

Julia Harris, Mortgage Analyst at Moneyfacts.co.uk, comments: “The 2 year fixed rate market is incredibly competitive, with many lenders fighting to win the top spot. With rising rates and fees it is great to see a competitively priced deal hit the market.

“With the low rate of 4.98%, the £1495 fee can soon be absorbed by the interest savings made. Not only is the package competitive, the mortgage is also available up to a maximum LTV of 95% and offers fully flexible feature, including an above average capital repayment limit of 20% per annum.

“It is welcome news for consumers to see a low rate with a reasonable upfront fee, as opposed to so many percentage fees now dominating the 2 year fixed rate market.

“While this mortgage may not be the best option for every borrower, it is certainly a great addition to the market. Lets hope more lenders follow suit.”