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Product focus: Short term tracker mortgages

Product focus: Short term tracker mortgages

Category: Mortgages

Updated: 13/05/2011
First Published: 13/05/2011

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 It is now over 6 months old so the content may be out of date.

Tracker rate mortgages have been a popular choice over the past couple of years due to base rate remaining at an all time low of 0.5%. Here is a selection of some of the best short term tracker mortgages currently available.

first direct

  • This two year tracker mortgage offers a rate of 1.99% (Bank Base Rate + 1.49%).
  • The maximum loan-to-value is 65% and customers can borrow between £10,000 and £1 million.
  • A fee of £999 is payable.
  • Remortgage customers receive free legal fees, while all borrowers have the options to make overpayments.

ING Direct

  • ING Direct's two year tracker deal offers a rate of 2.04% (Bank Base Rate + 1.54%).
  • The maximum loan-to-value is 60% and the deal is available to first, second time and remortgage borrowers.
  • Borrowing amounts range between £50,000 and £1 million.
  • A fee of £945 is payable.
  • Remortgage borrowers can enjoy a free valuation and free legal fees.
  • There is also the option, for all borrowers, to make overpayments of up to 10% of the mortgage advance.

Skipton Building Society

  • This deal offers a rate of 2.28% (Bank Base Rate + 1.78%) for two years.
  • The maximum loan-to-value is 60%.
  • Second time buyers and remortgage customers can borrow up to £1 million, while first time buyers can borrow up to £250,000.
  • An arrangement fee of £995 is payable.
  • Incentives of a free valuation and free legal fees are offered to remortgage borrowers, while flexible features of overpayments and payment holidays are offered to all borrowers.

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 Any products featured may be withdrawn by their provider or changed at any time.

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