Britannia launches new discount tracker mortgage

09-Nov-2006

Britannia Building Society has announced the launch of its new two-year discount tracker mortgage for first time buyers and repeat purchasers.

Available from November 10th, Britannia offers borrowers, including first time buyers, an initial interest rate of 4.75 per cent, with an interest rate discount of 1.50 per cent below the Bank of England's Base Rate for the first two years.

The new mortgage offers a loan-to-value up to 95 per cent and carries an arrangement fee of £399, in addition to a £100 administration fee.

"This new two-year [discounted mortgage] from Britannia is an excellent rate," said Mike Sims, marketing manager at Britannia.

"Customers could save by moving their mortgage to the society," he added.

Specifically for first time buyers, Britannia also offers a range of three-year fixed-rate mortgages, with interest rates between 5.44 per cent and 5.84 per cent.

To find out more about this mortgage, contact a good mortgage broker.

As the market for first time buyers toughens, new companies are offering new services to help first time buyers buy new properties by working with the house-builders.

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