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SOME OF THE BEST.

A STEPPED TRACKER RATE: A If you want a competitive initial rate below 2 per cent for a couple of years then The Mortgage Works has a tracker rate of Bank of England base rate plus 1.49 per cent until 30/09/2011 followed by another tracker rate of Bank of England base rate plus 2.49 per cent until 30/09/2012. This gives a very low starting rate of 1.99% and after the tracker rates end it reverts to a variable rate, which cent of the loan amount. The penalties last until 30/09/2012 and are 3% of the loan amount plus pounds 145. The maximum loan available is restricted to 75 per cent of the value of the property and the maximum loan is pounds 1000000.

ANOTHER LOW TRACKER RATE: Another of the lowest rates available at the moment, but which lasts the full term of the mortgage, is a deal from Co-operative Bank. This product has a very competitive starting rate of 2.49 per cent and is Bank of England base rate plus 1.99 per cent for the full term of the mortgage. There are no early redemption penalties and a free valuation and free legal fees are provided. There isn't even an arrangement fee and the maximum amount you can borrow is the same at 75 per cent of the value of the property. The maximum loan is pounds 1000000 and the deal is portable.

A LOW, SHORT TERM TRACKER RATE: A If you want a competitive low rate but don't feel the need to have it long term then ING Direct has a tracker rate of Bank of England base rate plus 2.04 per cent for 24 months followed by the standard variable rate of 3.5 per cent, currently. This gives a starting rate of 2.54 per cent and free legal fees and a free valuation are included. The deal has a booking fee of pounds 195, an arrangement fee of pounds 800 and the penalties last for two years and are 2 per cent of the loan amount. The maximum loan available is once again 75 per cent of the value of the property and the maximum loan is pounds 1,000,000.
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Title Annotation:Features
Publication:Birmingham Mail (England)
Date:Jul 7, 2010
Words:378
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