Market leading fixed rate mortgage launched by Britannia

Market leading fixed rate mortgage launched by Britannia A market leading two year fixed rate mortgage is due to be launched on Thursday by one of the UKs top mutual building societies, Britannia. The mortgage offers a rate of 4.99% for customers with a 25% deposit and 5.19% for those with a 5% deposit. Additional benefits of taking a Britannia mortgage include: · Free unemployment cover for 12 months · Free homebuyers cost protection insurance · Annual cash bonus through Britannia's unique Members' Loyalty Bonus Scheme The product is available to home movers, first time buyers and those looking to move their mortgage to Britannia. There is an arrangement fee of £295 and there are no extended early repayment fees. Details of the products are available at any Britannia branch, by calling the Mortgage Helpline on 0845 842 9429 or online at www.britannia.co.uk For further information contact Joanne Hine at Britannia Press Office on 01538 393077/76. Out of normal office hours you can page a duty press officer on 07669 083851. Notes to editors: · Britannia is Britain's second biggest mutually owned building society, with 2.1 million members, 190 branches countrywide and assets of £15 billion. The Group, based in Leek, Staffordshire, employs 3,000 people. · The new two year fixed rate product is available from Thursday September 6th, 2001 · All Britannia mortgages which involve a house purchase come with a unique free homebuyers cost protection insurance. It covers them against financial loss if the purchase falls through and they have already incurred costs, including application fees, valuation fees and legal costs. As a result homebuyers are protected against gazumping, adverse survey or local authority search results while in the process of buying a home. · Free unemployment cover for 12 months is included. · Maximum advance is 95% of the valuation or purchase price. · £295 arrangement fee is payable upon application. · If the product is redeemed within the two year term of the fixed rate an early repayment fee of 180 days interest at the Society's prevailing standard variable mortgage rate (currently 6.64%) is payable. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/04/20010904BIT01010/bit0001.doc http://www.waymaker.net/bitonline/2001/09/04/20010904BIT01010/bit0001.pdf