Britannia launches new range of mortgages

04-Oct-2006

For first time buyers, Britannia has launched a range of three year variable rate mortgages, with initial interest rates ranging between 5.44 and 5.84 per cent, with a reversion to the mortgage lender's standard variable rate of 6.45 per cent after an initial three year period.

Minimum deposits for the new packages range from five to 25 per cent and are administration and arrangement fee free.

"We believe these changes will make [the products] a best-buy for customers," said Tim Franklin, managing director of member business for Britannia.

Britannia is also offering a range of fixed-rate mortgages, with interest rates ranging from 4.99 to 5.39 per cent, fixed over periods of two to ten years.

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