Lenders offering sub-1% tracker rate mortgages

by Aaron Strutt

Mar 07 2020

Banks and building societies are offering incredibly cheap tracker rate mortgages following the Bank of England’s decision to lower the base rate by 0.5% to 0.25%.

A selection of mortgage lenders are offering sub-1% two-year tracker rates for applicants with larger deposits including HSBC, Nationwide, Barclays and Scottish Widows for Intermediaries.

HSBC for Intermediaries has a 0.89% two-year tracker mortgage with a £999 arrangement fee.  After the tracker rate, the mortgage reverts to the lenders current 4.19% standard variable rate, and the overall cost for comparison is 3.8% APRC. The product does not have any early repayment charges and applicants will need a 40% deposit to qualify.

Aaron Strutt, product director at Trinity Financial, says: “If you are looking for a bargain-basement mortgage then the tracker rates are a great option. If you prefer to take a two-year fix, then Halifax has a rate that is 0.25% more expensive than HSBC’s tracker rate.”

Call Trinity Financial on 020 7016 0790 to secure a mortgage