The tracker is charged at 0.10 per cent below Bank of England base rate for the first two years. After this initial period the rate will be at base rate plus 0.25 per cent for the next three years, after which it reverts to Lambeth's standard variable rate (SVR) prevailing at that time. Available for purchases and remortgages, a non-refundable fee of £95 is payable on application, with the balance of £295 added to the loan on completion.
The two year discount mortgage is guaranteed to be 2.56 per cent below the society's SVR for the first two years. After that, interest will be charged at the SVR prevailing at that time. Available for purchases and remortgages (fully portable) a non-refundable fee of £95 is payable on application, with the balance of £200 added to the loan on completion.
Lambeth has also reduced its standard variable rate by 0.16 per cent to 5.69 per cent.
