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.