23
Apr
Could property buyers benefit from new tracker mortgage?
Property buyers around the UK who are seeking deals on home loans
may be interested in a new offering from one firm.
The Coventry has launched a tracker product which is 2.49 per cent,
plus the base rate.
Currently, the deal works out cheaper than many fixed-rate
offerings because the base rate remains at 0.5 per cent in the wake
of the credit crunch.
According to the firm, the loan is an alternative to many existing
mortgages.
As well as being available to new home buyers, it can be taken out
by those looking to remortgage.
Colin Franklin, sales and marketing director at the Coventry, said:
"For those wishing to take advantage of low interest rates and
protect themselves in future, our capped base rate tracker mortgage
is perfect."
However, the cost of the offering may rise later this year if the
base rate goes up, as many experts believe it will.
