Tracker Mortgages

Latest Tracker Mortgage Deals

2 Year TRACKER deal »NatWest Mortgages

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1.59%Reverts to 3.75% after 2 years


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

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Tracker

1.59%

Reverts to 3.75%

2

Years

60%

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

1.59%

Reverts to 3.75%

2

Years

60%

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

1.65%

Reverts to 4.54%

3

Years

70%

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

1.79%

Reverts to 3.75%

2

Years

70%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.90% 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

1.99%

Reverts to 4.54%

2

Years

70%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.00% APRC. This is the cost of the mortgage over the full term.
Tracker

2.19%

Reverts to 4.54%

2

Years

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.
Tracker

2.29%

Reverts to 4.54%

3

Years

70%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.90% APRC. This is the cost of the mortgage over the full term.
Tracker

2.59%

Reverts to 4.54%

3

Years

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.00% 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.

What is a Tracker Mortgage?

A tracker mortgage is a type of mortgage where the interest rate is linked to a particular base rate which moves up or down in line with this base rate e.g. The Bank of England Base Rate. The tracker rate will be set at a certain percentage above this rate e.g. if set at 2.50% above the BOE Base rate (0.50% as at April 2014) the overall rate would be 3.00%. With this type of mortgage you need to be prepared to pay more on your mortgage repayments if interest rates increase. The tracked rate can be for a set period e.g. 2 years or for the lifetime of the mortgage.

 

Tracker mortgages are offered by a selection of banks, building societies and specialist lenders who will on the whole be regulated by the Financial Conduct Authority (FCA).

 

Types of Tracker Mortgage

You can choose different types of tracker mortgage:

  • Fixed Period Tracker Mortgage - Mortgage companies offer fixed period tracker deals typically on a two year basis although 3,4 and 5 year trackers are available. With this type of tracker mortgage the mortgage company will set the rate above the base rate (which could be the Bank of England Base rate or the mortgage company's own base rate version) e.g. 3% for a set term such as two years, after which time the rate will revert to a variable rate plus the base rate.

  • Lifetime tracker Mortgage - With a lifetime tracker the mortgage company sets the rate which you pay plus the base rate from outset and this remains constant for the duration of the mortgage term. If you believe you might move house before the end of the mortgage term it is worth looking for a deal where you transfer your existing mortgage to your new property.
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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