First Time Buyer Tracker Mortgages

Compare First Time Buyer Tracker Mortgages

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4.24%

Overall Cost for Comparison 4.30% APRC. This is the cost of the mortgage over the full term. Early redemption charges may apply.

Compare our selection of the latest first time buyer tracker mortgages rates from a range of leading providers, see the table below:

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Tracker

1.82%

Reverts to 3.75%

2

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term.
Tracker

1.82%

Reverts to 3.75%

2

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term.
Tracker

1.89%

Reverts to 4.54%

3

Years

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term.
Tracker

2.19%

Reverts to 3.74%

2

Years

90%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.60% APRC. This is the cost of the mortgage over the full term.
Lifetime Tracker

4.24%

Lifetime of the mortgage

90%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.30% APRC. This is the cost of the mortgage over the full term.

Representative Example:


A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.


The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).


In this example the overall cost for comparison is 3.7% APRC representative.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

First Time Buyer Tracker Mortgage Deals

For most first time buyers, finding the correct mortgage is hugely important to ensure that they will get the most out of their investment. One of the first decisions to make as you seek out a mortgage is the type of mortgage that you require. A first time buyer tracker mortgage is an example that you may be considering.


Depending on your circumstances there will be a range of mortgage lenders who could offer you competitive quotes for a first time buyer tracker mortgage. To find the best deal on your mortgage, it is advisable to compare quotes from a number of providers. You might therefore find the comparison tables above helpful as you search for a first time buyer mortgage:

 

A first time buyer tracker mortgage has interest rates that are linked to the Bank of England base interest rate. Therefore, the interest rate of your mortgage could move up or down in correlation with this. For many people, a first time buyer tracker mortgage has the following pros and cons:

 

Pros

  • When the base interest rate is low, the interest rate on your tracker mortgage will also be
  • Interest rates tend to be lower than lender’s Standard Variable Rates (SVR)
  • You could pay less interest than on a fixed rate mortgage, depending on the base interest rate

Cons

  • The interest rate on your tracker mortgage could increase with the base interest rate
  • As the interest rate is variable, it may be harder for you to work out your long term budgets
  • You may be subject to early repayment charges should you wish to make overpayments

 

As you look for a suitable first time buyer tracker mortgage, it is advisable to compare what each different provider could offer you before opting for a particular mortgage deal.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker