Private Label is launching a three year discount rate mortgage with a 2 per cent cashback.
The discount is 2 per cent a year for three years, bringing the current payable rate down to 4.85 per cent up to 95 per cent loan to value.
The cashback of 2 per cent is subject to a maximum of £10,000.
There is an arrangement fee of £295 and early redemption fees of 6 per cent in years one and two, 5 per cent in years three and four and 4 per cent in year five.
The procuration fees is £165.