For the best mortgage rates a healthy deposit helps.

A healthy deposit can help you secure the best mortgage rates. It is one of the most influential factors for rates, because the lower your loan to value the less risk you are considered to a lender. At Deal Direct we are whole of market brokers who can secure the best deals lenders offer.

If you have a deposit of 40% you could be eligible for a life time tracker mortgage as low as 2.29% above base rate. This offers a current interest rate of 2.59% which compares favourably with many shorter term tracker rates. The lifetime link to the base rate has the advantage of not reverting to the lender's unpredictable standard variable rate after 2 or 3 years.

With some economists predicting that the Bank of England base rate could remain low for some time, longer term or lifetime trackers are worth considering. However you need to be aware that not all trackers are linked to the Bank of England rate. Some are linked to the lender's own bank rate.

To find the best mortgage rates comparing lifetime trackers may appear to be as easy as comparing interest rates. For example Woolwich offers 3.19% above base rate with 30% deposit and 3.29% above base rate with 20% deposit. However the Woolwich rates are linked to Barclays' bank rate which is not guaranteed to follow the Bank of England base rate.

For expert advice and knowledge of the many factors that determine which are the best deals call Deal Direct. We can help you decide if a long term tracker or another alternative is the best product for your circumstances. We can then source deals with the best mortgage rates according to the deposit you have available to help you get the best deal.