IF discount tracker mortgage launched

Thursday 23 March 2006

Intelligent Finance (IF) has announced the launch of an IF discount tracker with no early repayment charges (ERCs), which it says offers "flexibility and choice" to customers.

The IF non-offset tracker mortgage is a 95 per cent loan to value product, which tracks the base rate plus an additional 0.65 per cent until July 1st 2008 when it reverts to the company's standard rate.

"Intelligent Finance's ethos is to provide flexibility and choice for our customers. The new treatment of ERCs on our non-offset tracker range ensures that these products now offer the ultimate in flexibility for customers," said Mark Parker, managing director of IF.

"With prices starting from 4.69 per cent on the non-offset tracker range, 4.74 per cent on the non-offset fixed range and 4.55 per cent on the bank's offset range, we now offer an extensive range of extremely flexible options."

The IF discount tracker mortgage will launch with an interest rate of 5.15 per cent on March 31st.

IF has also said it is changing the way it calculates ERCs on its non-offset tracker mortgage products, with the fees only being charged in the case of full redemption on the mortgage value during the discount period.


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IF discount tracker mortgage launched