SimplyBiz Mortgages has launched a 95% LTV fixed rate exclusively through Leeds Building Society.
The 'Welcome' exclusive charges 0% for the first three months before switching to a fixed rate of 4.99% fixed until 30 November 2015.
The deal, which is available for purchases only, has a £600 completion fee and a £199 booking fee.
It includes a free standard valuation of up to £335.
Borrowers can make 10% capital repayments each year, but there are early redemption charges of 3% in the first year and 2% in the second year.
SimplyBiz chief executive Martin Reynolds said: “The initial launch of the ‘Welcome’ product was well received by both our members and the market. By extending the product to 95% LTV, we believe that it will open up greater opportunities for our members and their clients.
"The first few months following a house move can be costly and this product will help with that as well as providing an attractive rate following the initial three month period.” Phil Coombes, head of intermediary sales at Leeds Building Society, added: “We have introduced a number of new schemes and enhancements to existing criteria during the summer months. This new enhancement to our core ‘Welcome’ product via SimplyBiz Mortgages is the next step.”
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