Tracker Mortgages

Tracker Mortgages

A tracker mortgage is a type of variable rate mortgage which tracks a nominated interest rate, usually the Bank of England base rate. The actual mortgage rate you pay will be a set interest rate above or below the rate tracked. When rate tracked goes up, your mortgage...
Offset Mortgage

Offset Mortgage

An offset mortgage allows you to use your savings to reduce the amount of interest you pay on your outstanding mortgage balance. It links your savings, and in some cases your current account, to your mortgage. This means that instead of earning interest on your...
Cashback Mortgage

Cashback Mortgage

This mortgage comes with a cash sum that’s paid to you once your purchase or remortgage has been completed and your mortgage is in place. This type of mortgage can look attractive as it provides money back to help you settle into your new home for example. The amount...
Capped Rate

Capped Rate

A type of variable rate mortgage, but they have an interest rate ceiling, or cap, beyond which your payments can’t rise. The interest rate is often higher than that available on other variable and fixed rate mortgages, and the cap can be set quite high. However, it...
Discount Rate

Discount Rate

A type of variable rate mortgage where the interest rate is set at a discount below a rate of interest, typically the lender’s Standard Variable Rate (SVR) for an initial period of time, typically two or three years. The obvious benefit here is that the rate is lower,...
Variable Rate

Variable Rate

The interest rate used here is the lender’s default rate, their Standard Variable Rate (SVR). As the name suggests, the rate applied can change at any time, meaning that your monthly repayments could do so too. With this type of product there isn’t usually an early...