Mortgage Products

Tracker

A tracker rate mortgage is a type of mortgage product that follows the Bank of England base interest rate. A tracker mortgage rate is a variable rate that changes depending on the level of the base rate set by the Bank of England.

Generally, but not always, tracker rates are set higher than the Bank of England rate but lower than the standard variable rates. A tracker mortgage is anchored to the Bank of England base rate and is set to cost a percentage, or fraction of a percentage, more than this rate.

Fixed

A fixed rate mortgage is a type of mortgage product that remains the same for the term of the product, normally 2, 3, 5 or even 10 years. Fixed rate mortgages products are the most common product on the UK mortgage market, with the vast majority of first time buyers and mortgage borrowers seeking the security of a fixed rate.

When you choose a fixed rate mortgage the amount you pay each month will be fixed for a specified period of time, whatever happens to the Bank of England base rate and the standard variable rate offered by your mortgage lender.

Other mortgage products

There are other types of mortgage product available, such as discounted, capped and standard variable rate, to name a few. Contact us to discuss your requirements.

Repayment or interest-only?

Find out whether you should go for a repayment mortgage, or whether an interest-only product would suit your needs better.

Repayment Methods