Best Tracker rate mortgage deals

Base Rate Tracker Quotes

Cheap Tracker Rate Mortgages

A base rate tracker mortgage does exactly what it says on the tin, the rate is variable and will rise and fall inline with the Bank of England base Rate. The Bank of England sits for 2 days starting from the first Wednesday of every month and release the base rate at Noon on Thursday the next day.

You can have the option of either interest only or repayment mortgage and is available for both employed and self employed people. You can Remortgage to a new deal todayeven if you have a bad credit record, CCJ or missed payments on a loan or credit card agreement

Benefits of a base rate tracker

The main benefit of tracker rate mortgages are that if the base rate drops your monthly mortgage payment will go down at the start of the new month after the decision.

The disadvantage of a tracker rate mortgage

The main disadvantage of tracker rate mortgages are that if interest rates do start to rise your monthly payment will go up with it. If you are tied to your deal you will have to pay an early redemption penalty if you wish to switch to a fixed rate mortgage.

For more information on the latest tracker rate mortgage deals enter your details in the form below to request a call back, or alternatively call 01202 512340 and speak to a mortgage broker now.