Is the Base Rate On Tracker Mortgages Predictable

The rise and fall of base interest rate makes the tracker mortgage little unpredictable. When the interest rates are falling, tracker mortgage becomes a very good option. On the other hand, when the interest rates are rising, tracker mortgage might increase your interest payments. While everyone would like to know what the tracker mortgage rates would look like in future, it is actually very difficult to predict with 100%...

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...