What is a tracker mortgage?

Hello ericasmith,


Tracker mortgages are a combination of flexible payment options and an interest rate that follows, or tracks, the Bank of England base interest rate. Tracker mortgages can be very beneficial to borrowers, giving more control and financial freedom.

This type of mortgage has proved to be very popular with self-employed people or salesmen who work on a commission only. Therefore, are never been sure of how much they will bring home each month.

:idea:

Hi ericasmith,

A tracker mortgage can be defined as something similar to that of a standard variable rate mortgage. However, a tracker mortgage tracks rates from the Bank of England's base interest rate. To know all about tracker mortgages, check out the given page: "http://www.trackermortgage.org/12/tracker-mortgage/" .

Thanks