After the tracker period ends, borrowers choosing this product will move to Intelligent Finance’s standalone variable mortgage rate (currently 5.95%). There are no extended tie-ins or early redemption fees beyond 31 October 2006.
Tracker Rate Key Features:
- Tracking base rate (currently 4.75%) until October 2006
- No extended tie-ins
- No higher lending charge
- Max LTV of 80%
- Interest is calculated on daily balances
- Borrow from £25,001 to £1 million
- Legal fees paid and the standard valuation fee for remortgages refunded*
- Mortgage reverts to standalone mortgage variable rate after tracker rate period ends
- Ability to take up to two payment holidays each year
- 2% early repayment charge in year 1; 1% in year 2
- Arrangement fee of £349
For a capital and interest mortgage of £95,000 over 25 years, the monthly repayments under IF's new tracker mortgage will be £543.60 during the tracker period.
