A
mortgage that promises to give mortgage borrowers "the best of both worlds" has been launched by London &Country
Mortgages (L&C).
The no-fee mortgage broker has launched a two-year offset mortgage that offers a capped tracker mortgage rate.
The
mortgage rate on offer is 0.49 per cent plus the Bank of England's base rate and no early repayment charges apply.
Customers looking to
find a remortgage could opt for a mortgage rate of 5.04 per cent and receive free valuation and legal work.
"Unlike many capped
rates, this deal will allow borrowers to benefit the moment that
interest rates drop, safe in the knowledge that they won't pay more if rates rise," says James Cotton, mortgage specialist at L&C.
The maximum
loan to value for these mortgages is 85 per cent.
L&C is the UK's best-known no-fee mortgage broker. The Bath-based broker offers advice on residential mortgages and specialises in
buy to let mortgages and mortgages for those with
adverse credit problems.
