27 Apr

New capped tracker mortgage launched

New capped tracker mortgage launched

A new tracker mortgage has been launched by the Yorkshire Building Society, which is charged at the base rate plus 2.69 per cent and capped at 5.49 per cent.

Such a product would start at 3.19 per cent, while the upper limit will ensure that those taking it out are not hit hard if there are large increases in the base rate.

Offered over two years at 75 per cent loan-to-value (LTV) and fee of £245, the deal also comes with a choice of £250 cashback or free valuation and legal fees.

Another lender unveiling new deals today (April 27th) is the Co-operative Bank.

It has revealed details of two three-year products, a discount mortgage at 4.2 per cent interest and 75 per cent LTV, plus a fixed guarantor loan at 5.99 per cent, with no fee and 85 per cent LTV.

The second product is available to first-time buyers who have a close relative willing and financially able to act as a guarantor of the payments.

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