Mortgage Next launches tracker

Grant Bather

June 12, 2006

It is available to members of the Mortgage Next Network and directly authorised brokers registered with Mortgage Next Partners.

The Buy to let mortgage consist of a base rate tracker + 0.20% for 2 years giving a current charging rate of 4.70%. After 2 years the rate reverts to BBR + 0.99% for the remainder of the term.

The product comes with the following features:

No early redemption charge

1.5% arrangement fee

Available up to 85% loan to value plus fees

10% overpayments – max 10% per annum

Maximum loan advance £500,000

Procuration fee of 0.5% up to a maximum of £2,500

Marketing Director, Justine Tomlinson, said: “The buy to Let market has continued to hold-up well and and this 2 year base rate tracker offers one of the lowest rates currently available, with the added benefit of no early redemption penalties. I have no doubt that this deal will be very popular with brokers and borrowers.”

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