A selection of banks and building societies are offering flexible mortgages at incredibly cheap rates without early repayment charges.
Barclays, HSBC, Nationwide and Santander for Intermediaries are some of the largest lenders offering sub-1.5% Bank of England base rate trackers enabling borrowers to repay the mortgage early without charge.
Aaron Strutt, product director at Trinity Financial, says: “Our brokers regularly speak to borrowers who have locked into two or five-year fixes and they want to sell their property, borrow more money or move home. The high early repayments attached to their fixed rates cause them problems and it costs them thousands of pounds to repay the mortgage.
"There is not much of a gap between the price of the cheapest fixed and tracker rates especially if you have a larger deposit."
Barclays is offering one of the lowest trackers below 1.2% and applicants will need a 40% deposit to qualify. There is a £999 arrangement fee the rate is available for mortgages between £2 million and £10 million. The mortgage is marginally more expensive if you are looking to borrow between £5,000 and £2 million.
Call Trinity Financial on 020 7016 0790 to secure a flexible mortgage or book a consultation