Bradford & Bingley releases market-leading stepped tracker mortgage

06 May 2005
First-time buyers looking to get their foot on the property ladder this spring could take a step in the right direction with a new market-leading mortgage from Bradford & Bingley.

The new exclusive three-year stepped tracker mortgage, funded by Alliance & Leicester, offers a very competitive initial rate of 3.99 per cent with -0.76 per cent off the Bank of England base rate for the first year.

The base rate then returns to +0.74 per cent for the remaining term of the loan (with 4.7 per cent APR).

The deal involves no arrangement fee and a refund of the valuation fee, and is available for up to 95 per cent of the property value.

"This is a fantastic product for anyone looking to buy a home this spring. The average rate over three years is 4.99 per cent, making it amongst the best tracker rates available," said Duncan Pownall, mortgage development manager at Bradford & Bingley.

"In addition, because of the exclusive features borrowers are typically saving over £800 in fees against the nearest comparable deal. The low entry fees and initial payments help buyers financially when they need it most."

Click here to compare the best mortgage deals.

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