Rates start at Bank Base Rate (BBR) + 0.90% for two years (current rate at 4.90% (5.9% APR)) with no redemption penalties at anytime and a refund of the valuation fee. A flexible lifetime tracker rate is also available at only BBR + 0.99% (current rate at 4.99% (5.1% APR)). Both rates are available up to 75% LTV but loans are available up to 85% at BBR + 1.10% and BBR + 1.24% respectively.
Ray Boulger, Senior Technical Manager at Charcol, commented, “This range of mortgages offers the choice of a penalty free two year rate from BBR + 0.90% or a flexible lifetime tracker from BBR + 0.99%, all with a droplock facility. The two year deals are perfect for borrowers who want a market-leading rate, but who will not take advantage of flexible features such as taking payment holidays or borrowing money back. For borrowers who would find flexible features useful, we are offering lifetime trackers at slightly higher rates from BBR + 0.99%.”
“All the deals track BBR during the whole term of the loan but if in the future borrowers decide they want the security of a fixed rate, they can exercise the droplock facility. This enables them to switch to any generic fixed rate offered by the lender at the time and the only fee payable would be any product fee attached to the new deal.”
* Two year deal only.
Borrowers should contact 0800 71 81 91 or visit www.charcolonline.co.uk
