Base Rate Tracker Mortgage

Most mortgage lenders offer the Base Rate Tracker mortgage. This type of mortgage scheme is linked to the Bank of England Base Rate.

For example, the Bank of England's official rate is 5% plus 0.5% offered by the lender. Therefore the mortgage rate is charged at 5.5%. The mortgage lenders offer similar period schemes to fixed and discounted rates such as 2 and 3 years; early repayment charges apply.

The Bank of England rate is based on economic conditions and tends to be assessed monthly by the Monetary Policy Committee.

Most mortgage lenders apply restrictions to low-level base rates, and you must speak to your mortgage provider to confirm this.

The base rate mortgage suits those who can comfortably afford the mortgage based on an affordability check. Our mortgage broker will advise the right mortgage deal based on your circumstances.

If you need mortgage advice on tracker rate mortgages, please speak to you one of our experienced advisers. We do have access to the whole mortgage market and we'll source the right tracker rates for you.

Mortgage deals may not be available and lending is subject to individual circumstances and status.

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.