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.