Intelligent Finance enhances mortgage range

Mortgage provider Intelligent Finance has launched a range of new mortgages, including a three-year offset tracker option with a rate of 4.65 per cent.

This product will be set to track at 0.15 above the Bank of England base rate for the opening period and is available for both house purchase and remortgage.

During the opening three-year phase of the package early repayment charges (ERCs) of three per cent will apply in the event of full repayment only.

Customers wishing to take up mortgage of £200,000 or more will be able to take up this offer, with a maximum loan-to-value (LTV) rate of 85 per cent.

Two other offset products are available specifically for home buyers and remortgagers at rates of 4.59 and 4.79 per cent, to track at 0.09 and 0.29 per cent above the base rate respectively.

The offer periods on both of these mortgages will run until September 1st 2008 and both of the deals are available at up to 85 per cent LTV with ERCs of two per cent.

A fourth offset package was also introduced with no ERCs at a rate of 4.99 per cent, to track at 0.49 above base rate until September 1st 2008, and available up to 85 per cent LTV for both purchase and remortgage.

Introducing the offers, Mark Parker, managing director of Intelligent Finance, said: “With the Bank of England base rate remaining static once again and swap rates remaining volatile, we feel the time is right to review our range to ensure that we remain at the forefront of the market and continue to provide an enhanced range of mortgage options.”