MANN Countrywide is offering a mortgage fixed at 3.89 per cent until February 1, 2005.

This compares with the average mortgage lender's standard variable rate of 5.95 per cent. With even the cheapest high street variable rate of 4.84 per cent, Mann Countrywide's customers will make substantial monthly savings. There are no penalties for switching lenders at the end of the fixed rate period.

Andrew Benn, managing director, said: “While mortgage rates are at their cheapest for more than 40 years, this is the first time in 18 months that we have heavily promoted a fixed rate. I am able to offer my customers the security of knowing that their monthly mortgage repayments will not increase for two years, regardless of what happens to rates in the meantime.”

Mann Countrywide has been promoting value-for-money mortgage products for more than two years through associated company, Countrywide Assured Financial Services, under its “big deal” banner.

Mr Benn said: “These products have also been the key to keeping our customers' monthly outgoings as low as possible, giving them the opportunity to spend any surplus budget on their family and home improvements.”

For further information about the current 3.89 per cent fixed rate (APR 5.60 per cent) offer, contact your local Mann Countrywide branch or call the head office on 0208 850 5566.