The loan offers a tracked pay-rate of 0.74 per cent above the Bank of England’s Base Rate (BBR) for the term of the mortgage.
The loan features the added incentive of a set ‘capped rate’ until 31 May 2007, which guarantees the pay rate will not exceed 6.09 per cent during the specified term. After 31 May 2007 there are no early repayment charges.
The arrangement fee for the mortgage is £295 and can be rolled-up into the loan.
Brian Morton, Dunfermline Building Society’s sales and marketing director, said: “With our Lifetime Tracker we are catering for people who are not swayed solely by low introductory rates or discount periods.”
