• From This is Money:

    Its ‘capped tracker’ is 2.49 percentage points above base rate, so it is currently charging 2.99%.
    This gives initial repayments on a typical £150,000 loan of £711 a month.
    But it is capped at 5.99% for five years, providing a level of security that traditional trackers simply don’t provide.
    This ceiling would need to come into force only if base rate hit 3.5%.
    It is available for those with a 25% deposit and carries a fee of £995.
    Though it is possible to get a cheaper rate on a tracker where the rate has no ceiling, the offer still stands up well against the best fix and tracker deals in the market.
    The top five-year fix – from the Co-op – comes in at 4.99%, while ING Direct’s table-topping two-year tracker is 2.49% above base, so currently charges 2.99%.
    Base rate has remained at an alltime low of 0.5% since March.
    Despite this, the latest figures from the Council of Mortgage Lenders show that around eight out of ten borrowers prefer the securi…

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    Posted by Jon @ 8:42 pm

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