Taking out a mortgage to buy a home is a big decision, and this decision can be made even more difficult by the uncertainty that comes with ever-changing interest rates. With a tracker mortgage, your interest rate will be set at a percentage above or below the Bank of England's base rate. This way, when the base rate changes, your rate will change as well. If you feel like a tracker mortgage is a good option for you, fill out our short form, and one of SimplyFinance's representatives will put you in touch with a tracker mortgage broker that will help you find the best tracker mortgage deal for you.
Tracker mortgages are becoming more and more popular, so mortgage companies are beginning to offer a larger number of tracker mortgage products. It would take a considerable amount of time and effort on your part to sift through all the offers available in the UK to find the one that's right for you. If you'd like to skip the searching step, consider letting SimplyFinance help. After providing us with some information, one of our representatives will introduce you to a tracker mortgage lender that will match you with the best tracker mortgage deal available based on your financial circumstances. Give it a try! It's quick, easy, and you're under no obligation.
Some Tracker Mortgage Basics
- Tracker mortgages are popular because they're simple to understand. Your interest rate will track and fluctuate with the Bank of England's base interest rate.
- Tracker mortgages have low rates compared to flexible and fixed rate mortgages because tracker mortgage rates are dictated by the current economic conditions in the UK.
- Because tracker mortgages are so popular, there are many to choose from, many of which are offered at discounted rates. Lenders are competing for a cut of the tracker mortgage market, so they're willing to offer special rate deals.
More Tracker Mortgage Help
Remortgage Loan To Value Calculator
Keep Track of your Extra Cash
Shopping for a Right to Buy Mortgage
Pensioners hold £654bn of Home Equity in the UK
Sarah Beeny's Top 10 Tips for Buying to Let in 2010
Sarah Beeny, tepilo.com
Internet or High Street - Where would you go to find your next home?
Sarah Beeny, Tepilo.com
Watch out for Mortgage fees when Shopping Around for a new Mortgage
How much is your Mortgage really costing you?