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Britannia offers fee-free mortgages

Britannia is revamping its mortgage book with a range of fee-free and fixed-rate loans.

As part of its range of fee-free loans, it is offering a two-year fixed rate at 3.99 per cent, a five-year fix at 4.54 per cent and a 10-year fix at 4.99 per cent. All are available up to 90 per cent loan to value.

The two-year loan has a redemption penalty of 180 days&#39 interest during the term, the five-year has a 240-day interest penalty within the term and the 10-year fix has a 360-day penalty within the fixed period.

The loans are free from arrangement, administration and valuation fees.

The building society is also offering two new two-year fixed-rate loans. The first has an arrangement fee of £295 and a rate of 3.39 per cent up to 95 per cent LTV. The second has an arrangement fee of £495 at a rate of 3.29 per cent up to 95 per cent LTV.

Redemption penalties on both loans is 180 days&#39 interest during the fixed term.

Head of mortgage marketing Alan Long says: “Britannia prides itself on giving the man in the street a full range of mortgages which will suit each individual&#39s needs with exceptionally low rates. There is a lot of uncertainty in the economic climate and these products will offer the borrower peace of mind.”

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