Tracker Mortgages
The best tracker mortgage deals are those that track the bank of England interest rate or 'base rate'.
They are not to be confused with discounted mortgage rates. These types of tracker mortgages have a rate which is dicounted at a certain level below the lenders' standard variable rate. The lender may decide to increase this rate even if the bank base rate is static. Conversely they do not have to pass on any cuts in the bank of England rate.
Tracker mortgages are also not to be confused with variable mortgages. If you are on the banks standard variable rate you are sunject to any changes (up or down) they make.
Finally, it is important to understand that the cheapest tracker mortgage deals are not always those with the lowest rates. The lowest mortgage rates often have the highest fees lurking in the background!
For more advice on the best tracker deals available on the market today, contact us.
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Your home may be repossessed if you do not keep up repayments on your mortgage
Coleman Clough Mortgages is an appointed representative of Coleman Clough Investment Management which is authorised and regulated by the Financial Service Authority.Typically we charge £395 for advising on and arranging your mortgage.Coleman Clough Mortgages, The New Barn, Home Farm, The Avenue, Esholt, West Yorkshire, BD17 7RH