The deal gives borrowers a rate of 0.21% below Bank Base Rate (BBR) for two years, and has a current pay rate of 4.54% (5.9% APR). It is available up to 90% loan to value (LTV) and reverts to BBR + 1.25% for the remaining term. This is in addition to the current deal for loans over £25,001, which comes with a market leading rate at Bank Base Rate - 0.16% for 2 years.
Elliot Nathan, Product Development Manager at Charcol said, “Both deals offer homeowners looking to remortgage a competitive discount off Bank Base Rate and come with the added bonus of having no lender fee, a refund of valuation fee and free legals ensuring remortgage costs are kept to a minimum”
“For those who have been nervous about taking out a tracker deal, the real question they have to ask themselves is whether or not Bank Base Rate has peaked. All the signs point to this being the case, or at worst there being only one more quarter point increase to come. With several economists now predicting that Base Rate will start to fall by the end of next year, the likelihood of 4.75% proving to be near the peak for this cycle is increasing.”
