By Ben Marquand
UK-iNvest, the financial news website, has launched an online mortgage sourcing service with over 2000 products from 125 lenders.
The new service includes the introductory offer of a two-year capped rate mortgage with an initial rate of 4.99% until 30 November 2002. The cost of both the legal fees and the valuation are guaranteed to be less than £500, and there are no overhanging redemption fees. The offer is limited to those who visit the site at www.uk-invest.com before the end of February, however there are plans for other exclusive deals in the future.
Paul Steinberg, business development manager at UK-iNvest.com, said: “We have specifically launched the new mortgage service with a capped rate instead of a fixed rate mortgage as it provides a win-win situation for homebuyers. Homeowners will have the security of knowing that their mortgage payments will not rise if the base rate goes up, but more importantly if the base rates falls as widely expected, they can enjoy the benefits of any reduction in the standard variable mortgage rate.”
The new service includes both an analysis and comparison of fixed, variable, first time buyer and remortgage products. There is also a facility to instruct valuers online, and a unique online application tracking facility. Mortgage certificates are guaranteed within five minutes, and there are plans to allow online access to over 150 solicitors.
The new mortgage service is available in association with NetMortgage, a division of Savills Private Finance and can be accessed through the Mortgage Channel of UK-iNvest.