Tracker Mortgages
A tracker rate gives you the certainty of knowing the rate you pay will move automatically in line with Bank Base Rates. You benefit straight away from any reduction in Bank Base Rate, even if the lender delays reducing its standard variable rate to reflect the reduction. Tracker rates often track Bank Base Rate by a certain percentage, e.g. Bank Base plus 0.75% for the full term of the mortgage. Plus Points: A tracker rate means that you immediately benefit from any reduction in Bank Base Rate - which is particularly beneficial in times of low Base Rates. Points to Watch: If Bank Base Rate increases your interest rate will also move up, will those on capped or fixed rates keep their low rate for longer.
Below are the leading tracker mortgage companies. We strongly recommend that you obtain quotes from several companies. It always pays to shop around!
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