Huge rise in number of cheap five-year fixed-rate mortgages
Stuart Fearn adds that many borrowers prefer tracker mortgages and that this particular mortgage is very competitive.
The mortgage rate on this deal, which is available with a maximum loan-to-value of 90 per cent, is set at 0.44 per cent above the Bank of England's base rate.
Free valuation up to �335 is included in the mortgage which has no higher lending charge and offers free in-house legal services for remortgage customers.
The mortgage lender also offers a three-year fee-free tracker mortgage to those borrowers who only have five per cent of the loan total to put down as a deposit.
This 95 per cent loan-to-value mortgage has a mortgage rate that is currently set at 5.54 per cent and will track the Bank of England's base rate for the duration of the loan term.
These products will prove attractive to both first-time buyers and remortgage customers who are looking to benefit from a mortgage without any setup costs, Mr Fearn concludes.
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