21 Jan

New discount mortgage available through PMS and ITL

New discount mortgage available through PMS and ITL

An exclusive two-year discount mortgage has been launched by Sesame Bankhall Group subsidiary PMS and In The Loop (ITL) Mortgages.

The product is available at up to an 80 per cent loan-to-value ratio and interest is paid at 2.2 percentage points beneath ITL's standard variable rate (SVR), which works out at 3.79 per cent under the current SVR of 5.99 per cent.

Other features include no early redemption fees and free valuation for remortgages.

Intermediary sales manager at ITL Bev Newman suggested that the new deal could be in high demand.

"Borrowers wish to have a product that gives them the flexibility to make unlimited overpayments," she commented.

"There is an obvious appetite for this type of product."

PMS's development director Martin Reynolds, whose company provides subscribing mortgage intermediaries with access to exclusive arrangements, added that a deal with all of these features is "very rare" in today's mortgage market.ADNFCR-1222-ID-19569486-ADNFCR

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