Tracker Mortgages
Tracker Mortgages Explained...
Tracker Rate Mortgages move in line usually with the Bank of England Base Rate. The rate set depends on the mortgage lender and can be either higher or lower than the Bank of England base rate, occasionally these rates will be for a initial period of between 2-5 years.
Some mortgage lenders will set a minimum rate to which the mortgage can go, however there is no limit to how high it will go. This particular deal is great for buyers who can afford to pay the higher rates should the rates go up.
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