Tracker Mortgage

Tracker Mortgage

A type of mortgage for which the interest rate tracks Bank of England’s interest rate.
References in periodicals archive ?
A tracker mortgage follows the Bank of England base rate at a set margin above or below and can mean you secure a mortgage deal with a very low rate of interest.
CHOOSING whether to go for a fixed rate or tracker mortgage has not been an easy decision over the last few years.
39 per cent Lifetime Tracker mortgage would see their monthly payments increase by [pounds sterling]267.
SHANE and Elizabeth Smart chose a tracker mortgage to buy their new two-bed terrace home in Bath, which they moved into on the August Bank Holiday weekend.
Its flexible base rate tracker mortgage is available for purchase and re-mortgage at 3.
HSBC says a typical borrower taking a tracker mortgage in October 2008 for pounds 112,756 is now saving over pounds 218 per month on their initial payment.
The move comes after Lloyds TSB yesterday announced it was launching a three-year tracker mortgage at 3.
NATIONWIDE Building Society will not pass on any further interest rate cuts to the majority of its tracker mortgage customers, it said today.
But if you want to gamble on rates falling further next year, it's worth considering a tracker mortgage.
MANCHESTER, England, May 23 /PRNewswire/ -- Internet bank, smile, today (23 May 2006) launched a new tracker mortgage that will offer a generous rate of 3.
o Mortgage advisor Charcol is offering an exclusive lifetime tracker mortgage with a six per cent cashback up to a maximum of pounds 120,000.
The European Tracker Mortgage, while linked to the European Central Bank's interest rate, will operate entirely in sterling.