Financial Services Industry
Industry: Email Alert RSS FeedMortgages.
Financial Adviser, February, 2007
Stepped Tracker
John Charcol
Type: Stepped tracker.
Description: Funded by Woolwich and offered with no extended tie-in, this mortgage is offered on a maximum loan-to-value of 80 per cent. In year one the rate is 4.99 per cent, 0.26 of a percentage point discount on the Bank of England base rates; in year two the rate is 5.3 per cent 0.05 per cent below the base rate. Both rates revert to the bank base rate, plus 0.95 of a percentage point. The fee is AGBP1070 with the incentive available to remortgages of free valuation and free legal fees, or a AGBP200 rebate.
Conditions: There is a 1 per cent early repayment charge.
Contact: www.johncharcol.co.uk
VERDICT:
This sounds like a reasonable deal, although...
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