What Is A Tracker Mortgage

A tracker mortgage is quite similar to the standard variable rate mortgage. There is one difference however, that a tracker mortgage tracks rates from the Bank of England’s base interest rate. A tracker mortgages is also known as a variable rate mortgage that is linked directly to the base rate of the Bank of England. As a result, the mortgage’s interest rate tends to fluctuate based on the increase or decrease of the...

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. ...