Furness Building Society has launched a 3.85 per cent five-year fixed rate exclusive for PMS and Sesame members.
The product, which is available up to 75 per cent loan-to-value and for a £500 fee, includes a free valuation and free legal service for remortgage customers.
The maximum loan is £500,000 and borrowers are allowed to overpay by up to 10 per cent during the fixed rate period.
PMS senior product and communications manager Robert McCoy says: “Long-term fixed rates, such as this, have never been so low. With such a large number of clients looking for the security of a fixed rate, I am sure this will be popular with our members. This product complements the current three-year fixed rate product the members have access to already.”