TSB offering 1.09% tracker mortgage for property purchases
TSB is offering a particularly impressive tracker rate mortgage and it is priced as low as 1.09%.
This mortgage tracks the Bank of England base rate plus a margin of 0.59% until April 30, 2017.
It is available to borrowers looking to purchase a property and it has a £1,995 arrangement fee.
Borrowers will require a 40% deposit to qualify and the maximum loan size is £1 million.
Aaron Strutt, product manager at Trinity Financial, says: “Some of the tracker mortgages are incredibly well priced at the moment and they undercut most of the fixed rates.
“If you are looking planning to take a tracker it might be worth looking for a switch-to-fix mortgage where you can lock into a fix when base rate finally starts to rise. Although this is not an option available through TSB.”
Early repayment charges apply for the first two-years. While the APR is 4.1%.
After the tracker rate period the rate will revert to the lenders standard variable rate, currently 3.99%.
If you would like help to secure a fixed or tracker mortgage, call Trinity on 020 7016 0790.
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