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Mortgage lenders face challenge of new Britannia remortgage offer

Fri, 17 Mar 2006



Britannia Building Society is offering its customers the chance to remortgage for £99, setting a new benchmark for other mortgage lenders.

The £99 fee is applicable for its entire remortgage range and customers will not be charged any administration fees, will be given free valuation and conveyancing as well as no higher lending charge (HLC).

Britannia has also relaunched its main two-year discount tracker product, which is available to first-time buyers as well as remortgage customers.

The product is now available at a new mortgage rate of 4.4 per cent, which is a drop of ten basis points, taking it below the base rate.

"These products offer customers the opportunity to remortgage to Britannia and save thousands on their mortgage," explained Mike Sims, marketing manager for Britannia.

"For a fee of just £99, Britannia covers all the costs of switching."

Britannia Building Society is the second biggest building society in the UK and and offers all the products you would expect from a large building society, as well as a range of specialist services, it claims. Subsidiaries and specialist departments offer everything from commercial lending and intermediary lending, help for those people with special or slightly unusual requirements, to tax-free offshore savings.

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