Tracker mortgages deals
Tailored rates with firstmortgage.co.uk
With dozens of lenders in the UK and hundreds of deals available, finding the best tracker mortgage deal can be difficult and time-consuming.
With First Mortgage, you are guaranteed the lowest rate tracker mortgage deal. Totally impartial, we search the whole of the market for the right offers. Call us now on 0845 603 1525 to talk to one of our experienced, friendly team about our current tracker mortgage deals.
What is a tracker rate mortgage?
With a tracker mortgage deal your interest rate changes in line with fluctuations in the Bank of England’s base interest rate. Usually, your interest is set at an agreed percentage above the base rate (for example + 0.5%) for an agreed period. There are two main types of tracker. Lifetime agreements last for the entire repayment term, whereas most deals have a tracker period (often 2-5 years) before returning to fixed or standard variable rates.
Is a tracker mortgage deal right for you?
Although they are one of the most popular deals in the current market, trackers aren’t right for everyone. Before choosing your mortgage, you should consider the following tracker advantages and disadvantages:
When (and if) the base rate falls, your interest payments are reduced too
However, if the base rate rises, then so do your monthly payments
Usually, there is a cap on how much more you will pay above the base rate if it rises
Unlike other flexible interest rate types, with a tracker you won’t suddenly see a change in your outgoings at the whim of the lender
There may be early repayment or switch penalties
Often there is a set minimum interest rate, meaning that if the base rate falls below this you won’t see the benefit
Find a tracker rate mortgage deal
Call us on 0845 603 1525 and talk with one of our consultants. We are happy to discuss your situation and help you choose the best tracker deal.
Get quotes prepared fast and easy from our award winning brokers starting, with our smart online form. Quote request
Unsure where to start? Call our advice team now for free, impartial, experienced advice. Call us
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