Tracker Launched Into Home Loan Market
A new tracker type mortgage has been introduced by Legal and General, with a twenty-five percent deposit required by the customer.
The tracker mortgage idea is very good for when rates are quite low, which in many ways they still are right now. This particular Legal and General mortgage also has the facility to offset funds, pays cashback for remortgage customers and has an arrangement fee of just under a thousand pounds.
A Legal and General spokesperson suggested this type of tracker mortgage, with the additional features provided, could prove very interesting to those homeowners who have equity in their home since that could be used to offset against the repayments.