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Call our Lonsdale mortgage advisers now on 01727 845500 for quality mortgage advice

Tracker Mortgages

What is a tracker mortgage?

A tracker mortgage is a type of variable mortgage as it tracks the Bank of England base rate at a set percentage above or below it. For example if the base rate is 0.25% and you pay 1.25% above the base rate on your tracker mortgage you will pay a monthly rate of 1.5% until the base rate changes.

Is a tracker mortgage right for you?

Review the advantages and disadvantage of variable rate mortgages below.

For a personalised recommendation call our St Albans mortgage advisers today on 01727 845500.

Advantages with tracker mortgages

  • When interest rates are low tracker rate mortgages can offer lower monthly repayments
  • Your interest rate is dependent on the Bank of England base rate and is not affected by your lender’s standard variable rate

Book a consultation

Save time and call our Lonsdale mortgage adviser on 01727 845500 for an initial no obligation mortgage review. Or complete our mortgage enquiry form and get the right mortgage for your situation.


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Disadvantages with tracker mortgages

  • If the Bank of England raises base rates your payments will increase. If interest rates increase very quickly you may find your monthly payments increase significantly
  • You could be charged an early repayment fee if you want to change your tracker mortgage product
  • Some life time tracker products are available but most tracker mortgages last less than 5 years and then you will have to consider another mortgage product or pay the lender’s standard variable rate

Extremely clear and efficient advice and support. Nothing was too much trouble.”

Mr M, St Albans, Hertfordshire