Base Rate Tracker Mortgages UK
A tracker mortgage is similar to a variable mortgage. Basically a tracker mortgage means the interest rate will follow the Bank of England's Base Rate by a certain amount.
The result is that your monthly mortgage payments will go up and down, accoding to changes in the base rate.
Often tracker mortgages offer a discount from the lenders standard variable rate.
Sometimes, the discount is for only a fixed introductory time period of 1 or 2 years.
Best Tracker Deal
- Woolwich Tracker Mortgages Best Deal
- Lifetime tracker
Bank of England Base Rate + 0.24%, currently 5.74%, for the term of the mortgage. Capped at 5.99% for 2 years. - Application fee: £595
- No early repayment charge
- Borrow up to 80% of the value of your home
- Minimum loan amount £50,000, maximum £500,000.
- The overall cost for comparison is 6.0% APR.
- Lifetime tracker
- Top 10 Base Rate Tracker mortgages
Best UK Tracker Mortgages
- Tracker Mortgages at Alliance & Leicester
- Tracker Mortgages at Abbey National - choose between 2 year and 3 year stepped tracker mortgage deals. Involves minimum deposit of 5%. 3 year tracker starts at -0.76% behind Base Rate, but rises to +1.24% in year 3. Overall cost for comparison 7.1%
- Tracker Mortgages at Halifax includes online exclusive. Starting rate of 5.19% until 30th June 2009. Start up fees of £499.
Overall cost for comparison 7.2% - Tracker Mortgages at HSBC HSBC Tracker Rate - Standard B of E br + 0.74% for term. Start up fee £499. Minimum deposit 10%.
Overall cost for Comparison 6.5% APR - Top 10 Remortgage Sites
- Getting a mortgage in UK