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Tracker Mortgage

Interest Only or Repayment
Cashback Mortgage
Discount Mortgage
Standard Rate Variable
Offset Mortgage 
Fixed Morgage
Capped Mortgages
 

Tracker Mortgage


The Tracker mortgage is very similar to the SVR mortgage and only differs in that it has an definitive relationship to the Bank of England base rate. For example, if the Bank of England base rates rises or falls by 1% then your mortgage rate will automatically rise or fall accordingly by 1%

Advantages: OK if the base rate falls.

Dis-advantages: Not so good if the base rate rises. Once again, makes it difficult to budget.

Discount Mortgage