Product focus: Tracker mortgages - Mortgages - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Product focus: Tracker mortgages

Product focus: Tracker mortgages

Category: Mortgages

Updated: 07/11/2011
First Published: 07/11/2011

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 It is now over 6 months old so the content may be out of date.

Variable tracker rate mortgages are a popular choice among borrowers at the moment, due to bank base rate remaining at an all time low of 0.50% for the past 31 months. Here is a selection of some of the current best short-term tracker rate mortgages.

Chelsea Building Society

  • This variable tracker product offers a rate of 1.99% to 31 December 2013 (Bank base rate plus 1.49% for 25 months).
  • The maximum loan-to-value is 70% and purchase and remortgage customers can borrow between £25,001 and £1 million.
  • A fee of £1,495 is payable.
  • This deal allows borrowers to make overpayments of up to 10% of the mortgage advance.

first direct

  • This deal offers a variable tracker rate of 2.08% (Bank base rate plus 1.58%) for two years.
  • The maximum loan-to-value is 65% and customers can borrow between £30,000 and £1 million.
  • An arrangement fee of £1,499 is payable.
  • The product is available to purchase and remortgage customers, although free legal fees are only offered to those remortgaging.
  • Flexible features such as overpayments and payment holidays are also offered to all borrowers.

NatWest Mortgage Services

  • This product offers a variable rate of 2.19% to 31 March 2014 (NatWest bank base rate plus 1.69%).
  • The maximum loan-to-value is 50% and the minimum advance for purchase and remortgage borrowers is £25,000.
  • An arrangement fee of £999 is payable.
  • Remortgage borrowers can enjoy free legal fees and a free valuation.
  • There is also the opportunity to make overpayments of up to 10% of the outstanding balance.

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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close