Tracker Mortgages

Welcome to the Tracker Mortgages page, a tracker mortgage has an interest rate that tracks the Bank Of England's base interest rate, this means that they match the health of the UK's economy so when interest rates are low and the economy is in good health a tracker mortgage can offer some very low interest rates.

The interest rate of a tracker mortgage will be set just above or just below the Bank Of England's interest rate and will rise and fall in exact line with the Bank Of England's interest rate, it is the difference between the Bank Of England's interest rate and the tracker mortgage interest rate that is important. Some mortgage providers will offer a low introductory interest rate that is below the bank Of England's interest rate that will then increase some time down the line so check for this if you are getting a tracker mortgage.

A good thing about tracker mortgages is that the interest rate will drop instantly so as soon as the Bank Of England drop their interest rates it will affect your mortgage right away. But you have to remember that the interest rates could rise as well as fall and this usually depends on the economy so if the economy is in a good shape then you should get a good value tracker mortgage.