Three more reasons to offset as intelligent finance cuts costs of borrowing

29.06.2005 Intelligent Finance today unveiled a triple bonus for mortgage borrowers as it announced plans to slash arrangement fees, remove all early repayment charges and reduce rates on many of its offset mortgages.
Intelligent Finance's move goes against recent trends of providers looking to increase administration fees and early repayment charges as payback for apparently lower borrowing rates. This has seen arrangement fees across the mortgage industry rise by an average of 40% in recent months.
Intelligent Finance is taking advantage of beneficial movements in swap rates to provide borrowers with a better deal.


Commenting, Nick Robinson, Managing Director, Intelligent Finance, said:
"We are taking advantage of lower borrowing costs to slash arrangement fees, remove early repayment charges and cut rates on some of our mortgages. The combination of low fees, low rates and no penalty charges on top of the huge benefits a tracker offset mortgage presents will prove a winner with borrowers. That's three more reasons for people to manage their finances more intelligently."
From 5th June, borrowers taking out an offset mortgage with Intelligent Finance will enjoy the benefits of:

• Removal of all early repayment charges on its offset mortgages;
• A flat rate arrangement fee of £199 on all offset mortgages, a reduction of up to £300 on selected mortgages;
• A reduction of 0.1% on select offset mortgages

Tracker Offset
All Intelligent Offset mortgages will be offered as tracker products. With many commentators predicting interest rates have peaked, Intelligent Finance believes tracker, and especially tracker offset mortgages, will appeal to consumers looking to benefit from falling borrowing rates.
Intelligent Offset
Intelligent Finance provides a full offset service. It allows people to offset money in their current account, savings account and mini-cash ISAs against their mortgages to reduce the cost of their borrowings. No other bank gives people so many opportunities to offset.
02/06/05