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.