Tracker Mortgages

Tracker mortgages have interest rates that track the Bank of England rates and so monthly payments on tracker mortgages will either increase or decrease in line with any base rate changes. This ensures that borrowers will be making payments in line with the current market, and will rapidly benefit should the interest rate drop.

Keep the following in mind when looking at tracker mortgages:

Interest rates are likely to start at a lower rate than fixed rate mortgages offer, but obviously may change over time.
Tracker can offer savings if interest rates drop, but there is also the risk of increased costs if interest rates rise.
As always, seeking professional advice before making any mortgage decisions can be highly useful.

Initial Rate	Type	Period To	Provider	The Overall Cost For Comparison APR	LTV
4.99%	Discount	Jul 2010	HSBC	6.50%	80%	More
5.34%	Fixed	Jul 2009	Norwich & Peterborough B.Soc.	6.80%	85%	More
5.49%	Discount	Jul 2010	HSBC	6.40%	90%	More
5.59%	Standard	Jul 2033	Northern Bank Ltd	6.00%	75%	More
5.65%	Offset		Beverley	6.30%	75%	More
5.69%	Discount	Jul 2010	Barnsley	7.20%	85%	More
5.69%	Discount	Jul 2010	HSBC	6.40%	90%	More