Mortgage Types
 

Base-Rate Tracker Mortgages

A base-rate tracker interest rate is a type of discounted interest rate that instead of being calculated as a reduction of the standard variable interest rate set by the lender it is a fixed increase of the base lending rate set by the Bank of England.

The ups and downs of this system are the same as with the discount mortgage with the added advantage that the lender cannot influence your rate in any way since the rate is only dependent on the base-lending rate set by the Bank of England.

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