Base Rate Tracker Mortgages

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• What is a Tracker Mortgage? A mortgage with an interest rate that is usually linked to a particular rate that is set independently from the lender and moves up or down with it. In our case it is linked to the Bank of England Base Rate (BBR).
• What is "BBR"? When we refer to BBR we mean the Bank of England Base Rate.
• What are the benefits of a tracker mortgage? A tracker mortgage is a variable rate mortgage which always follows the Bank of England’s Base Rate (BBR), so your payments will change in accordance with external market interest rates. You will quickly benefit from any potential changes, plus the rate on your tracker mortgage always maintains the same differential between the rate you pay and the interest rate set by the Bank of England. You will need to bear in mind that base interest rates don't just go down. As and when the Bank of England raises UK interest rates, the cost of your tracker mortgage will rise as well.

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