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Product focus: Mortgages

Product focus: Mortgages

Category: Money

Updated: 22/12/2010
First Published: 21/12/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Bank base rate was reduced to 0.50% in March 2009 and the forecast from many financial analysts is that it will remain at its record low level for most, if not all, of 2011.

If the Bank of England Monetary Policy Committee decides to raise rates, it's expected to do so slowly. As a result borrowers are increasingly opting for variable rate deals, where rates are lower than on fixed rate deals.

Here is a selection of some of the latest variable rate mortgages to enter the market.

Woolwich from Barclays

Woolwich's latest tracker deal offers a rate of:

  • 2.68% for term. This deal has a maximum loan to value of 70% and a fee of £999 is payable.
  • The mortgage offers remortgage borrowers incentives of a free valuation on properties valued up to £2m, free legal fees and a £200 rebate.
  • Flexible options including overpayment, underpayments and payment holidays are also offered to all borrowers.


This new variable tracker from Santander offers first and second time borrowers a rate of:

  • 2.49% (BBR + 1.99%) for 2 years.
  • The deal has a maximum loan to value of 70%, an arrangement fee of £995 and offers incentives of a free valuation up to £1,190, free valuation admin fees and a £250 rebate on completion.
  • The deal also gives borrowers the option of overpaying up to 10% of the outstanding balance.

ING Direct UK

ING Direct recently launched a new variable tracker rate mortgage of:

  • 2.29% (BBR + 1.79%).
  • The deal allows customers to borrow up to 60% of the property value, has a fee of £945 and offers incentives of a free valuation and free legal fees to those wishing to remortgage.
  • There is also the flexibility to make overpayments of up to 10% of the mortgage advance.

Find the best mortgage rate - Compare best selling mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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