Tracker Rate Mortgages
A Tracker rate mortgage is a rate that tracks the Bank of England Base Rate, they can either be a discount off the the BoE rate or a loading on top of the rate, i,e base rate + 1% or base rate – 0.25%.
Tracker rate mortgages are available from 2 years to the life time of the mortgage. Often trackers come with free valuation and free legals with no early redemption penalties. This can be ideal for people who are looking to sell their house but have not found a buyer and would otherwise be on the lenders standard variable rate. The downside of these deals is that if rates start to rise fast, you will see your monthly payments rise and shopping around for a fixed rate will now be more expensive.
For more information on tracker rate mortgages or to discuss your new mortgage requirements
Enter you details in the contact us form, once you complete the brief enquiry form, we will contact you to discuss your options. Or call 01202 512340 lines open 9am – 7pm Monday to Saturday and speak to a mortgage broker now.
Enquiry Form
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