The Best Tracker Mortgages

Tracker mortgages follow the base interest rate of the Bank of England in the UK. How it works is quite simple, if the rate at the bank increases or decreases, then the same fluctuation is passed along to the tracker mortgage interest rate. For example if you had a tracker mortgage that was at 5% and the Bank of England’s rate dropped by 1%, your mortgage would now have a 4% interest rate without refinancing. ...

What Is A Lifetime Tracker Mortgage

Lifetime tracker mortgages are a type of mortgages that are specific to United Kingdom and not used in United States. A tracker mortgage would be equal to the US version of the adjustable rate mortgage or more commonly known as an ARM mortgage. Just as an ARM mortgage is based on the current interest rate here in the US, the lifetime tracker mortgage is based on the rate at the Bank of England and varies with the the...

Pro’s & Con’s Of The Tracker Mort...

The basic definition of a tracker mortgage is actually quite simple. A tracker mortgage is a mortgage type where the interest rate is based on the Bank of England’s base rate. This is considered a variable rate mortgage as opposed to a fixed rate because the rate various in conjunction with the base rate. What’s even more interesting is how popular this type of mortgage is. Roughly 20% of all mortgages are some...