Tracker
Many lenders offer a tracker mortgage of some kind. Your rate tracks the Bank of England base rate at either a set percentage above or below it.
Tracker mortgages are available for anything from a few months to the term of the mortgage.
If the Bank Base Rate (BBR) falls, so will your monthly repayments. But, if the BBR rises, so will your monthly repayments.
Some trackers don't have early repayment charges so if rates start to rise you may be able to switch cheaply to a fixed or capped rate product.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We can be paid by commission or a fee. The precise amount will depend on your circumstances but will be typically around £500
The Financial Services Authority does not regulate some forms of Mortgage.
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