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Tracker MortgageConsider a Tracker Mortgage to Save on Interest Payments

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. More info

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.

Your home may be repossessed if you are unable to keep up repayments on your mortgage.