Harpenden Building Society launches new 2 year fixed rate mortgage
01 October 2019
Harpenden Building Society has launched a 2 year fixed rate residential mortgage to meet anticipated demand from customers concerned by the unprecedented levels of economic uncertainty currently seen in the UK.
Key Features
Mortgage; Residential Owner Occupied - Fixed Rate
- Term 2 years
- Initial Fixed Rate Repayment/Interest-only: 2.75%
- Followed by a Variable Reversion Rate: 4.19%
- Available for Purchase, Re-mortgage, Release of equity
- Repayment type: Repayment, Interest-only, part & part
- Arrangement Fee: £1,999
- Admin Fee: £100 (Refunded upon completion)
- ERCs 2% for year 1 & 1% for year 2
- Procuration Fee 0.3%
The new fixed rate product will complement Harpenden’s existing discounted range and will represent the Society’s first entry into the fixed rate market for ROO mortgage lending to prime complex customers. Harpenden has listened to intermediaries, understood their needs and acted upon a necessity to provide a fixed rate option to increase their product range.
Ken Hale, Head of Lending at Harpenden Building Society comments: ‘Our new fixed rate offering is a major step forward for us in diversifying our product range and will provide additional security for our customers during this time of economic instability.
Our new, 2 year fixed rate mortgage allows our customers to plan with confidence but without being locked into an unnecessarily long, restrictive deal such as a 5 year term. Additional flexibility is retained within the 2 year fixed rate product with overpayment options included so customers can pay off the loan quicker.”
Specialists from Harpenden’s mortgage team will be pleased to speak with intermediaries to outline in more detail the growth opportunities in the fixed rate mortgage market. Please call 01582 765411.
