New remortgage options from Charcol

03 November 2004
Charcol, the independent mortgage adviser, is offering a new two-year tracker product for those homeowners trying to remortgage.

The new deal gives customers an interest rate of 0.16 per cent lower than below the Bank of England's base rate for two years - seeing it set at 4.59 per cent currently.

"This deal offers homeowners looking to remortgage a competitive discount of 0.16 per cent off Bank of England base rate for two years, and the added bonus of having no lender fee, a refund of valuation fee and free legals ensuring remortgage costs are kept to a minimum," said Elliot Nathan, product development manager at Charcol mortgage.

The loan is available up to 90 per cent loan to value, after the first two years the loan reverts to 1.25 per cent above base rate for the remainder of the loan.

"For those who have been nervous about taking out a tracker deal, the real question they have to ask themselves is whether or not base rate has peaked," Mr Nathan added.

"All the signs point to this being the case, or at worst there being only one more quarter point increase to come," the Charcol mortgage spokesman added.

"With several economists now predicting that base rate will start to fall by the end of next year, the likelihood of 4.75 per cent proving to be the peak for this cycle is increasing."

To find out more about remortgaging, click here.
© DeHavilland Information Services plc