Intelligent Finance has now reduced the two-year tracker rate on its Offset 80 tracker mortgage .
For those hoping to find a mortgage of this variety, the rate has been decreased by 0.4 per cent. The product's two-year discounted tracker rate will now be 4.99 per cent, having previously been 5.39 per cent.
After the introductory period, the mortgage reverts to Intelligent Finance's standard variable rate .
There are no extended redemption penalties on the mortgage and customers can continue to benefit from substantially lower effective rates by offsetting money in their current, savings and ISA accounts against their mortgage.
Nick Robinson, Managing Director, Intelligent Finance, commented: "We believe the offset market will see substantial growth over the next few years.
"Millions of borrowers who could make significant savings on their mortgages have yet to try an offset product. We have found that people with slightly lower loan to value mortgages tend to be more active offsetters.
He added: "The rate reduction on our popular Offset Tracker 80 mortgage is designed to encourage more people, who are in a position to maximise the benefits offset products offer, to try them out."
Intelligent Finance reduce offset mortgage rates
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Intelligent Finance reduce offset mortgage rates
Thu, 01 Sep 2005
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