Royal Bank of Scotland Intermediary Partners has launched a two year fixed rate remortgage product under its First Active brand.
The product will have an initial rate of 5.85 per cent and will only be available online from www.rbsip.com. The arrangement fee is £699 that can be added to the loan.
RBS director of intermediary mortgages Chris Pearson says: “When you look at what the rate combined with the arrangement fee does for the true cost of this product, I am sure it will prove to be very attractive to brokers looking for a good remortgage deal for their clients.”
Overpayments of up to 10 per cent of the original loan per annum are allowed during the initial deal period. A higher lending charge may apply. Early repayment charges: 2 per cent until 31 August 2008, 1 per cent until 31 August 2009.