Halifax launches 1.09% two-year tracker mortgage
Halifax for Intermediaries has launched a leading two-year purchase and remortgage tracker rate.
It tracks the Bank of England base rate plus a margin of 0.59% until 30th June 2017 - giving a pay rate of just 1.09%. The overall cost for comparison is 3.7% APR.
There is a £1,499 arrangement fee and the mortgage is available for loans between £200,000 and £700,000. Borrowers will need a 40% deposit to qualify.
Aaron Strutt, product manager at Trinity Financial, says: “The vast majority of borrowers are taking fixed rate mortgages but some of the trackers are very competitively priced.
“Halifax will pay for the property valuation and legal fees for remortgages, to help lower the cost of switching to a better deal.”
After the tracker rate period, the mortgage will revert to Halifax’s standard variable rate, which is currently 3.99%.
Early repayment charges apply until 30th June 2017.
If you would like help to secure a leading mortgage rate, call Trinity on 020 7016 0795.
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