Britannia Building Society is rolling out two capped-rate mortgages with free unemployment insurance for the first year.
The first product is capped for four years at 6.99 per cent. There is a redemption penalty which runs for the term of the cap and there is no arrangement fee.
The second product is also capped for four years at 5.99 per cent. This product has a seven-year redemption period, but no arrangement fee. The penalties run at 180 days gross interest.
Both products offer borrowers 12 months free unemployment cover and have up to 95 per cent loan to value.