Derbyshire launches Tracker Mortgage

After the period ends, customers move to the standard variable rate, currently at 5.70 per cent APR.

Other features include a waived standard mortgage valuation fee, no MIG, daily interest calculations and lending at up to 80 per cent loan to value ratio.

Application fees are £195 for existing members and £295 for other applicants. There are no early repayment charges after the two-year period.