John Charcol Offset Two-year Tracker Mortgage launched
www.moneynews.co.uk > Mortgages > John Charcol Offset Two-year Tracker Mortgage launched
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Money News |
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John Charcol Offset Two-year Tracker Mortgage launched
Tue 8th Aug 2006
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The John Charcol Offset Two-year Tracker Mortgage has no premium for the offset facility and the product is described by the mortgage provider as an "undisputed market leader".
An exclusive fee of £75 is charged by the company, the minimum loan amount on the new product is £200,001 and loans of up to £5 million are allowed.
Ray Boulger, senior technical manager at John Charcol, commented: "When offsetting was introduced, the premium for such a facility was well over half a per cent on your rate, making it very much the privilege of those with a large savings balance.
"This product, the gap between rates has vanished and for large loans you are receiving the offset facility as a freebie."
Last week, the Bank of England raised interest rates for the first time in 12 months.
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