L&C offset capped-rate mortgage launched

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L&C offset capped-rate mortgage launched

Wed 9th Nov 2005

No-fee broker London & Country (L&C) is offering a two-year capped-rate tracker mortgage which has full offset facilities.

The L&C offset capped-rate mortgage provides borrowers who are not decided on whether to take a fix or a tracker with another option, which has "the best of both worlds."

Potential remortgagers can choose a rate of 5.04 per cent with free legal work and valuation, with both choices offering an offset facility with no early repayment charges.

The L&C offset capped-rate mortgage lies at 0.49 per cent above Base Rate as well as being capped at the 4.99 per cent current pay rate.

Payments cannot rise during the capped period, regardless of whether interest rates increase.

"Unlike many capped rates, this deal will allow borrowers to benefit the moment that interest rates drop, safe in the knowledge that they won't pay more if rates rise," said James Cotton, L&C mortgage specialist.

"Whilst a little higher than some fixed rates, the added bonus of no Early Repayment Charges at any time and the offset facility makes this rate a very attractive proposition."

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