The deal, available for both purchases and remortgages, is pegged at 0.20% below the Bank Base Rate for 2 years, followed by 0.99% above for the life of the loan and is available up to 90% Loan to Value. As well as benefiting from no Early Repayment Charges, the deal offers a refunded valuation and £300 cashback towards legal costs, making it ideal for borrowers looking to switch their loan.
Commenting on the new deal, James Cotton, Mortgage Specialist at L&C said, "Trackers are already a popular choice for borrowers and this new deal offers exceptional value."
"Borrowers switching to this deal from a typical Standard Variable Rate of 6.75% could save over £2,200 a year* and the help with the set-up costs is an added bonus."
