Mortgages plc Two-Year Fixed-Rate mortgage launched

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Mortgages plc Two-Year Fixed-Rate mortgage launched

Fri 12th May 2006

A Mortgages plc Two-Year Fixed-Rate mortgage has been unveiled, with the option for borrowers to take a deal that is 0.45 per cent cheaper if they pay a 1.5 per cent arrangement fee.

For customers who take up this offer, a minimum arrangement fee of £1,500 must be paid.

Discounted fixed-rates on this option start from 4.85 per cent – a rate which Mortgages plc claims is 0.45 per cent cheaper than the equivalent products offered in the lender's core range – which carry an arrangement fee of £599.

The Mortgages plc Two-Year Fixed-Rate mortgage is available across the lender's entire product range, including its non-conforming packages and those with no higher lending charges.

"Demand for fixed rates remains high and with the markets anticipating a possible base rate increase in the near future, many borrowers are looking to lock into fixed rates while there are still good deals to be had," said Pete Thomson, sales director at Mortgages plc.

The lender also announced that it had repriced some of its deals at 90 and 95 per cent loan-to-value, with full details available on its website.

Mortgages plc is the UK lender and subsidiary of Merrill Lynch.