Kensington Mortgages fixed plus deal hits market
www.moneynews.co.uk > Mortgages > Kensington Mortgages fixed plus deal hits market
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Money News |
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Kensington Mortgages fixed plus deal hits market
Wed 14th Dec 2005
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The new option gives borrowers the security that comes with a three-year fixed rate and the benefits normally associated with tracker mortgages, the company says.
An initial rate is fixed at a three-year maximum, but will go down if interest rates fall.
Alison Hutchinson, managing director for Kensington Mortgages, said that the unique features of the fixed plus option were helpful for borrowers at a time of interest rate uncertainty.
"Some analysts are predicting reductions whilst others are suggesting increases," he said, making the new product a "great deal".
Rates for the Kensington Mortgages fixed plus option start at 5.55 per cent, cheaper than that of many standard three-year products according to the company.
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