New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Financial Services > Mortgages > Mortgages News

Tracker mortgages a better deal, expert claims

Bookmark and Share
       

Tracker mortgages are currently a better deal than a fixed-rate product, according to one expert.

Drew Wotherspoon, spokesperson for Charcol.co.uk, explained that tracker rate mortgages are currently priced around 0.3 per cent below fixed-rate deals, so people will see an immediate impact.

The fact that the Bank of England base rate is still expected to fall means that tracker mortgages should become an even better option.

However, there will come a time when fixed rate mortgages become a better option.

Therefore, borrowers may want to look at trackers that offer a drop lock option, allowing them to drop and lock into a fixed rate at any time should they wish to, he said.

If people do need a fixed rate mortgage, then they should hold on for as long as they can, Mr Wotherspoon added.

Meanwhile, research by Nationwide Building Society shows that 56 per cent of people state they are more likely to shop around for a new mortgage when their current deal ends that they would have been a year ago.

Bookmark and Share

Recommended Links

Copy and Paste the following HTML into your page.

Receive Mortgage Advice from a Regulated Advisor

Mortgage advice

There is no better time to be seeking suitable mortgage advice from a Regulated mortgage advisor

Submit your details today for an obligation-free chat and a regulated mortgage advisor will call you back to help you find the mortgage that best fits your needs.

We will only provide your details to one regulated advisor.

Your mortgage

 * Help
 * Help
 * Help
 Help
 Help
 *

About you

 *
 *
 *
 *
 *
 *
 *

Questions marked with * are required

Please be aware that the advisor who contacts you will be a third party advisor who has no connection with us. There is no charge to you for using this service. We are paid by charging your assigned advisor a fee for this service. Any advice or assistance given to you by a third party advisor does not represent our advice or assistance and is not checked or endorsed by us. It is your decision whether or not you act on any advice or assistance you are given.

By clicking “Proceed” you confirm that:

  • You accept our Terms of use and
  • You would like to be contacted by a regulated third party advisor to discuss your needs.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Financial Services Net Limited and other trusted 3rd parties would like to keep you advised via e-mail or telephone of products, services and other exciting offers we think may interest you. Please untick this box if you do not consent to us contacting you for further information.

news news rss
Mortgages News

Huge rise in number of cheap five-year fixed-rate mortgages

All hail the return of the 100% mortgage

Spare bedroom 'could slash mortgage by 29 months'

       
Mortgage lenders
   

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.

Free mortgage quoteFree Mortgage Quote

Mortgages in Scotland Mortgages in Scotland

Equity releaseEquity Release

  • Unlock equity in your home.

Switching mortgagesSwitching Mortgages

Home reversion plansHome Reversion Plans

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover

Mortgage Newsletter