When it comes to shopping around for the best buy-to-let tracker mortgages, an understanding of the product and how outside factors can affect the <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/best-mortgage-rates-uk\/best-tracker-mortgage-rate\/">rate<\/a> you pay is important.\r\n\r\nGetting a mortgage is a huge decision and with the average mortgage term expanding over 25 years, choosing the wrong deal can affect your finances for a significant period of time.\r\n\r\nWith so many rates, payment options and terms and conditions, navigating your way through can be difficult without expert advice.\r\n\r\nThat\u2019s why we\u2019ve created this helpful guide, with tips and information about buy-to-let tracker mortgages and where to turn for expert advice.\r\n<ul>\r\n \t<li><a href="#what-is">What is a buy-to-let tracker mortgage?<\/a><\/li>\r\n \t<li><a href="#advantages">buy-to-let tracker mortgage: advantages and disadvantages<\/a><\/li>\r\n \t<li><a href="#lifetime">Buy-to-let lifetime tracker mortgage comparison<\/a><\/li>\r\n \t<li><a href="#best">Find the best buy-to-let lifetime tracker mortgages<\/a><\/li>\r\n \t<li><a href="#expert">Speak to an expert about buy-to-let tracker mortgages<\/a><\/li>\r\n<\/ul>\r\nTo speak to an expert about the best buy-to-let tracker mortgage rates, <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-buy-to-let-specialist\/">click here.<\/a>\r\n\r\n[feefo-banner]\r\n<h2 id="what-is">What is a Buy-To-Let tracker mortgage?<\/h2>\r\nA buy-to-let tracker mortgage is a secured loan that some borrowers take out when they want to buy a property, for the purpose of renting it out for a profit. The term \u2018tracker\u2019 refers to the way that the interest rate set on the mortgage follows, or tracks, an external interest rate known as the <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/blog\/bank-of-england-interest-rate-the-state-of-play\/">base rate<\/a>. For borrowers, this means that the rate of interest they pay on their mortgage can fluctuate heavily, depending on the economy and the rate of inflation. As well as this, buy-to-let tracker mortgage providers can also add or deduct interest on top of this.\r\n<h3>Buy-to-let tracker mortgage example<\/h3>\r\n[box type="shadow"]\r\nSo for example, if the current base rate was 0.75%, a lender may also charge 2% on top of this for a \u00a3200,000 mortgage.\r\n\r\nTherefore, with a combined interest rate of 2.75%, your monthly mortgage payments on a 25-year mortgage would be \u00a3921.\r\n\r\nHowever, if the base rate were to increase from 0.75% to 1%, your monthly mortgage payment would increase to \u00a3946.\r\n[\/box]\r\n<h2 id="advantages">Buy-to-let tracker mortgage: advantages and disadvantages<\/h2>\r\nIt\u2019s always advisable to weigh up the pros and cons of each <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-application\/complete-guide-to-mortgages\/">mortgage type.<\/a> That way, you can make an informed decision and see if a tracker mortgage is right for you.\r\n<h3>Advantages<\/h3>\r\nAlthough buy-to-let tracker mortgages can be unpredictable, the change of interest rate can also be beneficial for some borrowers. This is because if the base rate decreased, the interest rate you pay on your mortgage would decrease too, reducing the cost of borrowing, and therefore saving you money.\r\n\r\nThis could provide an opportunity for tracker mortgage customers to potentially pay off more of their mortgage if you keep your monthly payments unchanged. As well as this, there are some tracker mortgages that don\u2019t have an early repayment charge.\r\n<h3>Disadvantages<\/h3>\r\nThere are also negative points that you may wish to consider before getting a buy-to-let tracker mortgage. For example, if the base rate were to increase, the interest rate of your mortgage could significantly increase, increasing the cost of borrowing.\r\n\r\nMany buy-to-let tracker mortgage customers are surprised to discover that the extra money paid on a mortgage after an increase of interest doesn\u2019t pay off the capital, and therefore wouldn\u2019t go towards paying more off your mortgage.\r\n\r\nAs well as this, depending on the rate of increase, your new level of debt could become unaffordable and so to avoid mis-payments, it can be a good idea to put away any savings.\r\n<h3>Preparing for a change of buy-to-let tracker mortgage rates<\/h3>\r\nA drastic or sudden change of base rate on a buy-to-let tracker mortgage can affect your ability to keep up with your payments.\r\n\r\nTo avoid a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bad-credit-mortgages\/repossession-rescue\/">mortgage default<\/a>, a good tip is to calculate how much your mortgage payments would be in the event of an increase of decrease.\r\n\r\nOf course, you won\u2019t be able to predict future interest rates but it can be helpful to estimate your mortgage payments for an increase and decrease of 3% each way.\r\n\r\nYou may decide that any potential increase would be too expensive and therefore unaffordable. However, you may be in a position to keep back savings which could cover the extra increase.\r\n\r\nWithout knowledge of the current mortgage rates, estimating your future mortgage payments can be difficult, however, the advisors we work with will be more than happy to do this for you.\r\n\r\n<a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-buy-to-let-specialist\/">Talk to an advisor<\/a>\u00a0for a quote or for more information about buy-to-let tracker mortgage rates.\r\n<h2 id="lifetime">Buy-to-let lifetime tracker mortgage comparison<\/h2>\r\nA buy-to-let lifetime tracker mortgage is a product with tracker rate interest for the duration of the term, and the advisors we work with have plenty of experience arranging these.\r\n\r\nIt takes time to find the best buy-to-let tracker mortgage as not every deal is visible to the public and some online comparison tools don\u2019t include deals from every mortgage provider on the market. A more efficient way to compare the numerous rates and deals that may be available is to seek the help of a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/buy-to-let-brokers\/">buy to let mortgage broker<\/a>.\r\n\r\nFor one, they will already be aware of the best lifetime tracker buy-to-let mortgages and after listening to your needs and understanding what it is you need from your mortgage, they can quickly highlight the most suitable deals for you.\r\n<h2 id="best">Find the best buy-to-let lifetime tracker mortgages<\/h2>\r\nAnother benefit of working with a mortgage broker is that they can quickly find the best buy-to-let tracker mortgage deals which in turn helps you to save money on wasted application fees. Many borrowers make the mistake of applying to multiple lenders at once.\r\n\r\nNot only can this be costly as you may be expected to pay application fees but it can also have a negative impact on your<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bad-credit-mortgages\/understanding-your-credit-reports\/"> credit report.<\/a>\r\n\r\n<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/">Buy-to-let mortgages<\/a>, in general, can be more difficult to get approval for as some lenders deem them as riskier.\r\n\r\nTherefore, any reduction in your <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bad-credit-mortgages\/how-much-does-a-mortgage-application-impact-your-credit-score\/">credit score<\/a> needs to be avoided as this can reduce your chances of being accepted by a lender and can also limit the rates that you\u2019ll have to choose from.\r\n\r\nTo find the best buy-to-let tracker mortgage, speak to a mortgage broker ahead of applying. Based on your circumstances, they can recommend which lenders are more likely to approve of you.\r\n<h2 id="expert">Speak to an expert about buy-to-let tracker mortgages<\/h2>\r\nIf you have any questions or would like to know more about buy-to-let tracker mortgages,\u00a0call us today on 0808 189 2301 or make an\u00a0<a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-buy-to-let-specialist\/">enquiry here<\/a><strong>.<\/strong> The experts we work with have whole-of-market access, meaning that they can find the best deals to suit your circumstances.