Home > Loan news archive > Low-cost lifetime tracker mortgage loan from Charcol

Low-cost lifetime tracker mortgage loan from Charcol

30 November 2004

Charcol has released a lifetime tracker mortgage set at Bank of England base rate plus + 0.14 per cent for the term of the loan.

Currently this would offer borrowers an interest rate of 4.89 per cent (5.2 per cent APR).

"To put it simply, this is the market leading lifetime tracker on the market today. At Bank of England base rate + 0.14 per cent it has the cheapest rate currently available for a lifetime tracker and the early repayment charge only applies for the first two years," said Elliot Nathan, product development manager of Charcol, the UK's leading independent mortgage adviser.

"A key feature of any lifetime tracker are the flexible facilities it provides. When opting for a long-term deal borrowers need to have the freedom to manage their mortgage to its full potential," he added.

The loan is available at up to 90 per cent of the value of the property, with a £499 lender's fee and a booking fee of £75.

The mortgage is semi-exclusive to Charcol, and provided by BM Solutions.