Consider a tracker mortgage while the base rate remains low.
With an historically low Bank of England base rate, a tracker mortgage could be a good option if you are not averse to risk.
Recently lenders have cut their fixed rates and that means they are getting closer to tracker rate levels, however trackers remain competitive.
If you are looking to switch mortgages get a comparison from Deal Direct to make sure you switch to the lowest rate possible.
Against the background of a continuing low base rate, longer term loans such as lifetime trackers or 5 year fixed products are currently highly competitive. Lifetime tracker mortgages, directly pegged to the BoE base rate present a cheap option.
If you secure a low lifetime tracker rate you will benefit all the time while the base rate is low. Some of the longer term trackers are currently offered at rates not much above shorter term fixed products which makes them particularly competitive.
Some building societies and banks offer trackers with rates as low as 1.99 % above base.
Deal Direct can find you the best tracker mortgage rates. We are independent whole of market mortgage broker and can source the best offers from a wide range of lenders.
Call an adviser today.
