New lifetime tracker available at John Charcol

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New lifetime tracker available at John Charcol

Fri 8th Sep 2006

Mortgage lender John Charcol has offered a new lifetime tracker mortgage with a number of extra features.

The lifetime tracker will give customers a rate that is 0.19 per cent above the base rate. This is currently a rate of 4.94 per cent however if the base rate goes up by 0.25 per cent in November as is expected customers will enjoy a rate of 5.19 per cent.

The most impressive feature of the lifetime tracker is that it gives customers the option to drop lock to a fixed rate mortgage whenever they choose. This means that if the base rate starts to decrease then customers have the option of returning to a more stable fixed rate mortgage.

Drew Wotherspoon, at John Charcol, commented: "This lifetime tracker offers the ideal solution with minimal set-up costs, a market-leading rate and full flexibility.

"Yet it is the ability to move into a fixed rate at any time which really makes it stand out from the crowd as it provides that all important option that many borrowers require in these more unpredictable times."

The lifetime tracker also benefits from no early repayment charges, no arrangement fees and APR of 5.1 per cent.

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