Mortgage packager Exclusive Connections has launched a three-year capped-rate loan.
The rate is capped at 5.37 per cent for loans up to 95 per cent loan to value until July 1, 2002.
The loan is funded by Bristol & West and carries a £299 arrangement fee.
Redemption penalties are 4.5 per cent in the first two years, 4 per cent in year three, 3.5 per cent in year four and 3 per cent in year five.
Income multiples are 3.5 times principal income plus second or 2.75 times joint.
A procuration fee of £500 is available.