Mortgage broker Chase De Vere has put together a mortgage that gives football fans the chance to link their loan rate to England’s success in the upcoming World Cup competition. Chase De Vere will give a discount if England reach the semi-finals and a further discount if they actually win the Cup.
The mortgage is offering a two-year discount of 0.75% on the Bank of England base rate, giving a starting rate of 3.25%. If England reaches the semi-finals the discount will be increased by 0.5%, with a further 1.75% discount for lifting the Cup, giving a rate of just 1% for the two years of the discount.
Chase De Vere has reinsured the risk by staking a £100,000 bet with internet bookmaker sportingbet.com, which has given odds of England winning the Cup at 11-1 against.
Simon Tyler, managing director of Chase De Vere Mortgage Management, said: ‘In the event England wins the World Cup, we would use the money from sportingbet.com to finance costs.’
