Smart Tracker Mortgages in Croydon

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Smart Tracker Mortgages in Croydon

Get access to the best tracker mortgage deals out there with the help of Mortgage & Lifetime Solutions. Our friendly advisor, Robert White, has been in the industry for over 25 years and has helped countless clients get their mortgages approved.

If you need help getting the right tracker mortgage in Croydon, call us.

What are tracker mortgages?

Tracker mortgages are home loans that have variable rates. These interest rates are based on two factors:

  • An external that’s usually based on the base rate set by the Bank of England.
  • A percentage agreed upon with the lender of the mortgage.

If the base rate is at 0.1%, and the set percentage with the lender is 0.5%, the tracker mortgage’s interest rate is at 0.6%.

This also means that changes in the base rate would also mean changes in the monthly payment requirements.

Tracker Mortgage Croydon

What tracker mortgages may mean for you?

Tracker mortgages are popular, particularly during times of low or dropping interest rates. Falling interest rates can also mean a reduction in your monthly payments. This is an especially appealing prospect for people who don’t mind changing rates.

In every payment you make for the tracker mortgage, a part of it goes to the interest, while the rest goes to the borrowed capital.

Unlike a few mortgage types, tracker mortgages have no early payment charge. This means that if you’re able to pay off the loan much earlier than the period allotted, there will be no additional or penalty charges. This can be especially useful for people who want to move into a new home or who want to remortgage their homes. This also means that you can essentially pay a lower amount overall.

Work with Professionals

Tracker mortgages may or may not be for you. It depends on a lot of variables that only a professional can accurately weigh for you. If you’re interested in tracker mortgages in Croydon, or any other mortgage type, don’t hesitate to call.

You can reach us at 020 8462 0497 or 07966 299247. You can also send us an email at robert.white@mortgagelifetime.com.

Croydon Tracker Mortgage

Why not give me a call for a friendly no-obligation chat.

Please do not hesitate to contact me in the first instance on 020 8462 0497 or 07966 299247 or email robert.white@mortgagelifetime.com

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