The Mortgage Works expands 100% mortgage range

The Mortgage Works is launching three new highly competitive mortgages in the 100% mortgage portfolio.

The new deals have an LTV of 99%, with an arrangement fee of 1% which can be added to the loan, taking the loan to 100% LTV. With rates starting from 5.99%, the products are designed for customers who have a small deposit and wish to take advantage of lower interest rates.

The new products are available from Thursday 14 June 2007.

Summary of new products

Five-year fixed – 5.99% (arrangement fee 1%), Max LTV 99%

Three-year fixed – 6.05% (arrangement fee 1%), Max LTV 99%

Two-year fixed – 6.05% (arrangement fee 1%), Max LTV 99%

Commenting, Andy McQueen, Director of Marketing at The Mortgage Works said: “The new loans are ideal for first-time buyers or those coming back into the market who may have a small deposit but not enough for the traditional 95% LTV loans.“