Would you like a mortgage that has some security, some certainty but still has some flexibility? Then you might want to hear about Tracker Mortgages.

But, what are Tracker Mortgages? 🤔

Well Tracker Rate Mortgages work by pegging your mortgage interest rate to the Bank of England Base Rate with a slight uplift.

That might look like, Base Rate + 0.50%.

So today, that would be a rate of 5.25%

Then, if the Base Rate goes up, then your mortgage interest rate and monthly payments will also go up.

However, if the Base Rate comes down then your rate and monthly payments will also come down.

On top of that, some lenders allow extra flexibility such as being able to make larger overpayments without any penalty. Or they may even allow you to come out of the mortgage early without paying an Early Repayment Charge.

So, if you think that sounds like something you would benefit from, a Tracker Rate could be the option for you.

But always speak to a qualified mortgage adviser who can give you the best advice.

Aitken Financial Services are award winning mortgage advisers based in Edinburgh who specialise in helping First Time Buyers. Get in touch to book your FREE mortgage discovery call.