Huge rise in number of cheap five-year fixed-rate mortgages
John Charcol has launched a new lifetime tracker mortgage .
At 0.19 per cent above the base rate throughout the term, John Charcol's tracker mortgage is available up to 75 per cent of the property's value, with no arrangement fee and no early repayment charge.
Drew Wotherspoon, of John Charcol, comments: Even if rates go up in November, as they are currently predicted to, they are likely to come down again next year, meaning that a tracker would make a sensible choice for many borrowers.
Yet it is the ability to move into a fixed rate at any time which really makes it stand out from the crowd as it provides that all important option that many borrowers require in these more unpredictable times.
Although the Bank of England chose to hold the base rate in September, a recent Reuters poll predicted a further rise in November.
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