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Intelligent Finance
Intelligent Finance began in the year 2000 and strives to help their customers make the most of their money. They are part of Bank of Scotland plc and work mainly over the phone and the Internet. Intelligent Finance has won 60 awards, including Best Flexible Lender, Best Offset Lender, and Best Current Account Mortgage Lender in 2007 alone. They offer offset-tracker and offset-fixed rate mortgages.
An offset mortgage works in conjunction with a current or savings account, on which you earn no interest, with the same financial institution. The advantage of such a plan is that you only pay interest on the difference between what is in your current or savings account and your mortgage payment, instead of on the entire mortgage loan amount. This can save you a lot of money and time with your mortgage.
Intelligent Finance offers several offset tracker mortgages, which differ mainly by the amount of money you need to borrow. Based on this amount, you are assigned an interest rate, which is usually a percentage above the Bank of England Base Rate. Most of the plans offer this rate for the life of the loan; however, some of them, after a certain term, revert to Intelligent Finance’s offset variable mortgage rate.
Intelligent Finance also offers two offset fixed rate mortgages, which are only available on loans for a certain amount of money. Each of these plans offers an initial rate for the first two years, after which time the offset variable mortgage rate applies.
Use our tools on SimplyFinance.co.uk to find the best company and product for you, keeping in mind that this article should not be interpreted as financial advice or as a recommendation by SimplyFinance to use any individual service or to invest with any company advertised or mentioned.
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TODAY’S MORTGAGE RATES
| Loan Type | Rate | APR |
|---|---|---|
| Fixed | 5.6% | 6.9% |
| Tracker | 5.64% | 5.9% |
| Discounted | 5.7% | 6.9% |
| Capped | 6.05% | 7.2% |
About this index Rates may contain points
NEWS & ARTICLES
26 Jun 2008
Lower Fees Demanded in the Face of Declining Mortgage Approval Numbers
The mortgage market in the UK has looked better, but there are steps being taken by officials to lessen the burden on borrowers. This article talks about the current status of the mortgage market, the things being done to assist borrowers in this time of financial turmoil, and ways that borrowers can prepare themselves to go out and find the best mortgage loan for them. »
21 Sep 2008
Prices Fall in UK Housing Market
UK housing prices are currently at a record low since the housing slump of the 1990’s. The current housing market crash has been driven by the low availability of credit for new mortgages. The low housing prices reported in the fourth quarter of 1990 were due to high levels of unemployment coupled with the high interest rates. Regardless of the reasons behind the current housing crunch, reports suggest that the cost of housing in the UK is not expected to rise any time soon. Rather, the speculation is that the prices will continue to fall on average 2% per month, making any quick recovery from this slump unlikely.»
08 Nov 2008
UK Slashes Interest Rates
UK makes shocking slash to interest rates. The 1.5% cut brings the interest rates to the current level of 3%, the lowest level the UK has seen since 1955. Due to the current shift in interest rates, and the state of the UK economy, now may be a good time to consider a remortgage. »
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