L&C launches tracker range

Amanda Jarvis

February 15, 2006

Both deals are available up to 85% of the property value and offer a free valuation and free legal work for remortgages.

The first deal is pegged at 0.25% below the Bank of England Base Rate for two years and carries a £599 arrangement fee. The second tracks at 0.51% below Base Rate for two years and has a higher fee of £1,499 making it ideally suited to large loans. Those borrowing less than around £173,000* would be better off on the higher rate and vice-versa.

Commenting on the deal, James Cotton, mortgage specialist at London & Country said: “These two deals combine exceptional rates with valuable incentives for remortgaging. The 4.25% rate will have mass appeal, whereas the 3.99% will offer excellent value to borrowers with large loans. Switching to the 3.99% rate from an SVR of 6.50%, borrowers can save at least £5,600 over the two years — taking into account the arrangement fee.”

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