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Lifetime tracker from John Charcol
24 August 2007 13:52
John Charcol has launched a new lifetime tracker mortgage that it claims is a market leading deal that will save borrowers considerable amounts in up-front costs.
The product is charged at 0.17 per cent above the base rate for mortgages of up to 80 per cent loan-to-value (LTV) or at 0.28 per cent above the base rate for up to 95 per cent LTV.
It is fully flexible and has a nominal booking fee of £75 but no exit fee, arrangement fee, higher lending charge (HLC) or early repayment charge, while John Charcol is also offering free valuation and legal services to remortgagers.
Product specialist Kate Tucker described the product as ideal for borrowers who never want to pay another fee again and claimed that the absence of a HLC alone could typically mean a saving of around £2,500.
She added that it was equally ideal for homeowners looking to raise some equity from their property or for borrowers looking for a high LTV product that they could easily leave should they wish to.
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