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Mortgage Guide
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Types Of
Mortgage
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Who should choose a tracker mortgage?
A base-rate tracker is a mortgage with an interest rate that mirrors alterations made to the Bank of England's base lending rate by its monetary policy committee.
Who should have one?If you're generally optimistic about the long-term prospects for interest rates, a tracker mortgage might be worth considering.
When the Bank cuts its base rate, your lender will pass on the full amount of the cut right away. (Read more about how the base rate is set)
T he thing to note here is that the mortgage lenders don't always do this for their other variable rate customers, who may have to wait longer only to see their rate fall by less than the full amount.
Of course, if the Bank raises its rate, yours will go up by the same amount and you will have to find the extra money every month. And who shouldn't
If you're pessimistic about rates or living on such a tight budget that you couldn't cope with a higher monthly mortgage payment you might be more comfortable with the certainty of a fixed-rate deal.For more help to make this decision, read Should I go for a fix or a discount?
also read When is a good time to choose a tracker?
To read more on this subject please see the list below or your mortgage guide or your home buying guide
Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below
Read On about
Fixed
Rate
Variable Rate
Capped Rate
Discounted Rate
Read On
Interest
only mortgages
Interest repayment
arrangements
Read On / Mortgage Guide
Choosing
a Mortgage
Different Mortgage Types
Re
Mortgages
How to Find your Mortgage
Mortgages in Principle
Read On
Guide to Buying Home in the UK
Guide to UK Home and Mortgage Insurance
Back to A to Z Mortgages UK List
Read more about Types of Mortgages
See contents of Full Mortgages Guide
See contents of Home Buyers Guide
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The
two major varieties:
Repayment
mortgages
Interest
only mortgages
Then
mix in the various:
Interest
repayment arrangements
Finally,
to cover all the different types there's a
Complete
A-Z of mortgages
Complete A-Z
All UK Mortgage types
100%
Mortgages
Base
Rate Trackers
Bridging
Loans
Bad
Credit Mortgages
Buy to Let
Calculators
for Mortgages
Cashback
Mortgages
Capped
Rate
Costs
of a Mortgage
Current
Account Mortgages
Discounted
Variable Rates
Equity
Release Mortgages
Endowment
Mortgages
Expatriate Mortgages
First
Time Buyer Mortgages
Fixed
Rate Mortgages
Group
Mortgages UK
Interest
Only Mortgages
ISA
Mortgage
Part
and Part Mortgages
Pension
Mortgages
Prime
Mortgages
Repayment
mortgages
Shared
Ownership Mortgages
Standard
Variable rate
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Mortgage
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How
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Types of Mortgage
Where to Find Your Mortgage
Getting a Mortgage in Principle
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