CLUB NEWS

19/05/2010 16:30, Report by Katie Chapman
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Manchester United Finance

Following the recent launch of the market-leading two year fixed rate, Manchester United Finance has launched some more new best buy mortgages, with the arrival of a new market-leading 3-year tracker and a 5-year capped rate tracker mortgage, provided by Britannia.

3 year tracker mortgage – until 31/07/2013

A Tracker Rate Mortgage that tracks the Bank of England Base Rate. Whenever the Base Rate changes the interest rate set for your mortgage tracks the change. So, you pay more when the Base Rate goes up and less if it goes down. The Tracker rate applies until 31/07/2013 and the mortgage rate reverts to Britannia's Standard Variable Rate for the remaining term.
This new market-leading three-year tracker rate until 31/07/2013 has an arrangement fee of £999. Early repayments charges apply until 31/07/2013.

• Advance - Up to 75% LTV
• Initial rate - 2.49%(Bank of England Base rate plus 1.99%), currently 2.49% variable until 31/07/2013. Changing then to our Standard Variable Rate
• Current Standard Variable Rate - 4.24% remaining on these variable rate terms for the remainder of the mortgage term
• Overall cost for comparison - 3.9% APR variable

5 year capped rate tracker mortgage – until 31/07/2015
A capped rate mortgage that tracks the Bank of England Base rate, which means you pay less when the rate goes down and more when the rate increases.  The capped rate on this product ensures your monthly mortgage payments do not go above a certain level, so you can benefit from Base Rate reductions and know your payments are capped until 31/07/2015 if the base rate increases significantly.  An arrangement fee of £999 applies, and early repayment charges apply until 31/07/2015.

• Advance - Up to 75% LTV
• Initial rate - 2.99% (Bank of England Base rate plus 2.49%), currently 2.99% variable until 31/07/2015. Due to the rate cap, the rate on this product will not go above 5.99%

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