National Counties Building Society is offering a stepped discount mortgage over two years for loans ...
National Counties Building Society is offering a stepped discount mortgage over two years for loans of up to 80% LTV.
There is a 'fees payable' version for purchases or remortgages, with a discount on the society's 6.99% standard variable rate of 2.25% in the first year and 1.25% in the second.
Where the fees are paid by the building society the discount is only available for remortgages, with a 2% discount in the first year and 1% in the second.
Neither version has any early repayment charge.
Hilary Houghton, manager at the mortgage centre, said: "We did a lot of research and IFAs like the stepped approach because it gives a better headline figure, but also, from the client's perspective, it means in the first year cash is freed up for work around the house."
Houghton says funds for the mortgage are limited but if demand is high another tranche could be made available.
For more information contact 01372 744155
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