Mortgage packager Exclusive Connections has launched a three year discounted rate mortgage with no early redemption penalties.
The loans which are funded by Leeds & Holbeck Building Society offers a 1.25 per cent discount plus a cashback of £250.
The current payable rate including the discount is 5.54 per cent, for loans up to at 90 per cent of valuation.
The society's buildings and contents insurance is compulsory otherwise 0.24 per cent is added to the rate.
There is a procuration fee of £100 for intermediaries.