Unlike a standard variable rate mortgage where the lender can set any rate they like, tracker rate mortgages are set at a specific percentage above the Bank of England’s base rate, which is currently 0.5%, for a set period of usually 2-3 years. This means your interest rate will only fluctuate in line with Bank of England rate movements and not those arbitrarily set by your lender for their commercial purposes. With the Bank of England rate at an all-time low, there are some excellent tracker rate deals to be found.
To ensure you find the best deal, First Mortgage provides an unbeatable whole of market range of tracker rate mortgages supported by a ‘Best In Market’ promise that provides complete peace of mind on your mortgage matters. Obviously, a tracker rate mortgage will not be an ideal solution for everyone; therefore we will also provide impartial advice on all your options to make sure a tracker rate mortgage would fit your own individual needs.
Our advice is always provided free to you and we pride ourselves in our award winning levels of personal service and market knowledge. For more information on how a tracker rate mortgage could work for you, simply contact your local branch today and speak to one of our friendly advisors.
Tracker Rate Mortgage Benefits
- Tracker Rate Mortgages from as low as 2.19%.
- The rate is set at a specific percentage above the Bank of England’s base rate. This means your interest rate will only fluctuate in line with the Bank of England rate, not those commercially set by the lender.
- This type of mortgage is possibly most suitable for those whose income is sufficient to cope with fluctuations in interest rate and should work out less expensive in overall payments in the long term.
- This also makes it a popular choice for those in progressive careers who expect their income to regularly increase.
Call your local branch today to find out what type of mortgage would suit you best and to see how much our free advice can save you