Savills Private Finance yesterday launched an exclusive tracker product.
The mortgage offer is 0.51% under Bank of England base rate for two years at a current rate of 3.99% and is available for purchase or remortgage. The product is available for loans up to 90% of property value up to £2m.
There is a £699 arrangement fee and no extended redemption penalties.The tracker is available online only.
Simon Jones, director at SPF, says: “This residential tracker is competitive and has a pay rate which is one of the lowest in the market at the moment.The benefit of taking a tracker product instead of a discounted product is that there is greater transparency as the rate will move in line with changes to Base Rate and not by whatever the lender decides to alter its SVR by.''