Furness launches new ERC-free discounted rate range

Rates start at 0.89% for cases up to 60% LTV and 1.19% for cases up to 80% LTV. Both products come with no early repayment charges, meaning borrowers can move onto a fixed product if rates get too high.

Both products carry a £1,699 fee, which can be paid up front or added to the loan, a free standard valuation package for purchases, and for clients wanting to remortgage there is a standard incentive package of free valuation and legal fees for cases in England and Wales. For cases in Scotland, a contribution of £150 towards legal fees will apply.

Alasdair McDonald from Furness for Intermediaries, said: “As the cost of living creeps up, we want to help give your clients some peace of mind by keeping mortgage payments as low as possible. Our new products come with highly competitive rates and, with no ERCs, your clients can rest easy knowing they can switch to a fixed deal if the rates get too high.”