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Vernon Building Society launches new mortgages

The Vernon Building Society in Stockport has launched its latest range of mortgages.

The mutual has released five new products including two-year discount and five-year fixed deals.

The two-year discount mortgages start with initial rates of 1.25% and 1.5% depending on the loan to value (LTV).

The lowest five-year fixed deal has a rate of 2.54% (80% LTV), while the 3.99% rate has no arrangement fee with £200 towards legal costs.

Ian Keeling, Director of Sales & Marketing at the Vernon, said “These products are highly competitive. We expect allocated funds to be taken quickly, therefore potential borrowers should be aware that these products may be withdrawn at short notice.”

The full range of mortgages can be found on the Vernon’s website or by calling in to any of its six branches.

The Vernon also recently announced that its Help to Buy: ISA for first-time buyers who want to save a deposit will pay a further bonus of 10% of the capital balance – up to £1,000 – in addition to the 25% Government bonus – if a mortgage is completed with them.