PMS is offering a two-year, fees-free exclusive remortgage only product with First Active available from 29 October 2009.
The product is fixed at 5.79% until 31 December 2011 and is available up to 80% LTV. There is no arrangement fee in addition to free valuation and free legal fees, and the early repayment charge is reducing from 2% in year one to 1% in year two.
Martin Reynolds , development director at PMS, said: “It is good to see some lenders venturing back into the market with higher LTV’s. This fees-free product offers excellent value at 80%. I believe that this product should provide a useful addition to the broker’s product options.””