Huge rise in number of cheap five-year fixed-rate mortgages
LC has set the mortgage rate at 0.25 per cent above the Bank of England base rate, which it will track until May 1st 2008.
The company believes the mortgage deal offers particular benefits to those looking to find a remortgage, in the form of free legal consultations and refunded valuations.
Mortgage specialist with the mortgage broker, James Cotton, said: The rate on this new deal is very close to standard deals, particularly for remortgages and it should appeal to anyone looking to reap the benefits of offsetting � not just those with large amounts of savings.
Offsetting allows mortgage holders to offset their individual savings accounts and current account savings against their mortgage.
Of all the no-fee mortgage brokers in the UK, LC claims it is the best known and is also involved with buy-to-let mortgages and adverse credit mortgage sectors.
The LC offset tracker mortgage also includes a current account within its offset facility.
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