There are many people who would like a tracker rate, but who feel the risk is just too great - people who would worry about the consequence if mortgage rates took an early and unexpected hike.
How about a tracker mortgage that has no penalty for switching to a fixed rate at any time, as long as you stay with the same lender?
These products have come and gone from various lenders over the year - and now a new one is on offer :-
A variable rate which is 2.58% above the Bank of England Base Rate (currently 0.50%), for 2 Years, to give a current rate payable of 3.08% (APR 4%), which will not go below a floor of 2.83%.
My Comment
This may soon disappear, just like previous offerings - but remember that you can reserve many products for up to 6 months in advance, so if your mortgage is due to expire in Aril 2010 you could reserve this one now!
Give me a call - 0845 170 20 20. mob 07855 799 807 or email.
http://www.usefulmortgages.co.uk/
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