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21 Sep 2019

Mortgage Advice


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What is...

  1. Fixed Rate
  2. Variable Rate
  3. Capped Rate
  4. Discounted Rate
  5. Tracker Rate
  6. Cash Back
  7. Flexible Mortgage
  8. Offset Mortgage
  9. Libor Mortgage

Specialist UK Mortgages...

  1. Bad Credit
  2. 95 % Mortgages
  3. 100 Percent
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  5. Shared ownership
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  10. Let to buy
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Tracker Rate Mortgages Explained

Tracker Rate Mortgage

Tracker rate mortgage schemes follow movement in the Bank of England base rate at an agreed differential.

The Tracker rate mortgage is available for a fixed period or the life time of the loan. The most common tracker rate period is 2 years, though many mortgage lenders now offer 3 year, 5 year and even 10 year track rate mortgages.

If the tracker rate is for a set period of time the mortgage will revert to the lenders standard variable rate at the end of the tracker rate period.

Pros and Cons of Tracker rate mortgages


  • Lower interest rate in the first few years then the lenders standard variable.
  • You will benefit from all reductions in the Bank of England's base rate.



  • Early redemption penalties can be onerous and expensive and may apply.
  • If the Bank of England base rate increases your monthly payments will rise in line with it.
  • It is less easy to budget as the interest rate might vary.


Do you want fee free Tracker rate mortgage advice?

For more information on tracker rate mortgage products from our professional mortgage advisors contact us today for mortgage advice


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We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500


Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500