Tracker Mortgages
Tracker Mortgages
Tracker mortgages offer you a Variable Rate Mortgage with an interest rate that rises and falls in line with a specific benchmark, usually the Bank of England Base Rate. The tracker rate would be expressed as a certain percentage rate above or in some cases below the benchmark rate.
There are usually no penalties for cancellation and for transferring to another mortgage product or to another lender (known as redemption penalty and lock-in periods) giving you the flexibility to change your mortgage type or move to a different lender.
Interest rates can go up as well as down. When it rises sharply your payments may increase substantially.
For more information on tracker mortgages or to apply for equity release or please follow
the link - Tracker
Mortgages >
- World of Mortgages is authorised and regulated by the Financial Services Authority. Our FSA registration number is 430499. The FSA do not regulate certain mortgages. The advice and/or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK
- We charge a fee usually 2% of the loan amount with a minimum of £2,999.
- Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured on it.