Legal and General has brought a new tracker mortgage to the market, with a maximum loan to value of 75 percent.
The mortgage does have a GBP999 arrangement fee, though this can be added to the mortgage value. There is also an offset facility at no extra charge and, for those looking for a remortgage there is a separate package or a cash return. In a quiet mortgage market Legal and General hope that this particular approach will generate considerable interest.
A spokesman from the company said that this particular tracker mortgage option would be perfect for someone with equity in their property and a balance of money that could be offset against the home loan. Legal and General are happy to answer any queries regarding the tracker mortgage, inviting people to get in touch either on line, by phone or at their local branch.
Sales of property with values over GBP1 million went up by 36 percent in 2007 compared with the previous year according to Halifax data.
There were over 8,250 sales of million pound plus properties, with over three quarters of them being in the south east of England and London. The largest increase in sales of million pound properties was in Scotland, where the measured increase by the Halifax was 138 percent. This was followed closely by the north east of England, with a 136 percent increase.
The south east has always had strong property values, said a Halifax representative, so it is not surprising to see it heading the number of sales list. It is also notable that rising property prices nationwide have driven up these type of sales further afield.
A new range of Alliance and Leicester mortgage products has just been announced with flexibility built in to suit different customer needs.
There are different fixed term periods available, fee or no fee mortgages and also a base rate tracker. Some excellent rates are available, with a maximum loan of 75 percent of the property value enabling the Alliance and Leicester to offer these rates. One of the most popular mortgage options is expected to be the 2 year fixed rate with a 5.99 percent interest rate.
One of the Alliance and Leicester tracker mortgages that customers will find interesting is currently quoting a rate of 5.89 percent for the first 2 years, this is base rate plus 0.89 percent. After 2 years the tracker works at base plus 1.49 percent.
