Jargon Buster - Definition of Tracker Mortgages
Please select your letter of choice below to see the list of terms:
- Tracker Mortgages
are variable rate mortgages that track the Bank of England base rate. For this reason, repayments will change as the base rate changes. The advantage of these mortgages are that you will benefit from decreases in the Bank of England base rate, the downside however is that you will not benefit from increases in the base rate.
Please note that all definitions are intended for general guidance only. For official and current definitions you should always double check your policy wording.
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