Tracker Mortgages

Tracker Mortgages

• A Tracker mortgage offers a Variable Rate Mortgage with an interest rate that rises and falls in line with a specific benchmark, usually the Bank of England Base Rate. The tracker rate would be expressed as a certain percentage rate above the Bank of England Base Rate.
• Interest rates can go up as well as down. When it rises sharply your payments may increase substantially.
• For more information on tracker mortgages or to apply for a tracker mortgage or please follow the link - Tracker Mortgages

The interest rate on a tracker mortgage follows the bank base rate for a selected period of time by a certain percentage. For example a tracker mortgage 2% above base rate would currently be 2.5% as the bank base rate is currently 0.5%. Should the base rate increase to 1% the interest payable would become 3% and so on. Should the bank base rate be reduced the tracker rate will also reduce making the interest rate payable lower.

UK Bridging Loans Limited is one of the few providers of beneficially affordable bridging mortgage finance for property owners who have tracker mortgages. Having little or no effect on tracker mortgages bridging finance can be applied for when wishing to purchase a new home or when setting up a business and can be taken out over a month to a year.