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Tracker Mortgages and Mortgage Rates

At present we do not have any tracker rate mortgage products. We will update our website if and when these products become available.

 

What is a tracker mortgage?

A tracker mortgage is a type of variable rate mortgage where the rate of interest is not affected by changes in the standard variable rate of a mortgage lender. The interest rate ordinarily tracks the Bank of England base rate at a set margin. A tracker mortgage might not be suitable for someone who needs to have the assurance of a fixed monthly mortgage repayment.

Tracker mortgages may last for as short as one year, or for the lifetime of the loan. When your tracker mortgage comes to an end, you're likely to be transferred onto your lender's Standard Variable Rate. Subject to the terms and conditions of the tracker mortgage you may have the option of overpaying on your mortgage, therefore shortening the total time it will take to pay off your mortgage and this will also reduce the interest you pay.

If you want to leave a tracker mortgage deal before the end of the set term, you may be charged an early repayment fee.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE


Making mortgages
easier to
understand

We've produced a number of guides and helpful information to help you understand your mortgage.

Get a clear
view on the
numbers

From affordability to making overpayments on your mortgage, we have a calculator to help you.

Helping you to
understand our
mortgages

The introduction of the Mortgage Market Review in April 2014 meant that new affordability criteria could make it harder for so-called misfits to get a mortgage.

Toby's top 5 things to consider when applying for a mortgage

Are you a mortgage prisoner? - Mortgage Market Review

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Your home may be repossessed if you do not keep up repayments on your mortgage.