Britannia mortgage matches base rate

20 October 2004
A new mortgage from Britannia Building Society offers consumers the chance to exactly match the Bank of England's base rate of borrowing for two years.

After the first two years of the loan, the rate jumps to Bank of England base rate + 1.50 per cent for the remaining term of the mortgage. There is a £299 arrangement fee.

"The Low Start Tracker offers customers a great rate, at Bank of England's base rate for two years, and if rates increased, customers have the option to change products, at any time during the life of the mortgage," said Alan Long, head of marketing at Britannia.

"This low start rate, coupled with a low arrangement fee, makes this product a good buy," he added.
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