Find The Best Tracker Mortgage Rates Available In The UK
We can help you find the best tracker mortgage deal, whether you’re purchasing or remortgaging. View and compare live tracker mortgage rates from 90+ lenders.
Over the last 10 years, we’ve helped over 600,000 customers get the right advice.
We guarantee to get your mortgage approved and find you the best deal. If we can’t and someone else does, we’ll give you £100!*
Over the last 10 years, we’ve helped over 600,000 customers get the right advice.
We guarantee to get your mortgage approved and find you the best deal. If we can’t and someone else does, we’ll give you £100!*
Author: Pete Mugleston
CeMAP Mortgage Advisor, MD
Below, you can view some of the current best tracker mortgage rates in the UK. Alternatively, head over to our mortgage comparison tool and input your details to filter specifically for tracker mortgages that you may be eligible for.
Deciding whether a tracker mortgage is right for you can be a difficult decision, but we’re here to help. Speak to one of our mortgage advisors and they will search the market to find the best tracker mortgage deal available to you. They can also advise on your alternative options. Learn more about tracker mortgages on our main page.
Best Tracker Mortgage Rates Available Today
The table below shows a selection of the best tracker mortgage rates available today from various lenders. The best tracker mortgage rate currently available is 4.28% from the 13 lenders offering this type of mortgage.
| Lender | Initial Rate | Initial Term | Monthly Payment |
|---|---|---|---|
|
4.28% | 2 years | £1,106 |
|
4.39% | 2 years | £1,120 |
|
4.64% | 2 years | £1,154 |
|
4.64% | 2 years | £1,154 |
|
4.73% | 2 years | £1,166 |
|
4.75% | 2 years | £1,168 |
Looking for more rates and deals?
Use our comparison tool or speak to an advisor to find the perfect mortgage for you.
Based on: £280,000 property value, £56,000 deposit, First Time, 30 year mortgage term.
The rates quoted above are subject to change at any time at the lender’s discretion. The best way to keep track of the rates available at any given time is to speak to a mortgage broker.
How to get the best tracker mortgage rates
As a general rule, tracker mortgage rates tend to be a few percentage points higher than the base rate set by the Bank of England, meaning you could expect a tracker mortgage to be around 0.5%-1% above this level.
The cheapest tracker mortgages are only slightly higher than the BoE base rate, but to qualify for a rate that low, you’d likely have to have a large deposit or commit to a 5 or even 10-year tracker rate period rather than the more typical 2, 3 or 5 years. Lifetime trackers are also an option if you wish to lock in a fluctuating tracker rate for your mortgage.
To learn more about how tracker mortgages work and the deal you could expect in your circumstances, reach out to one of our expert brokers.
Secure The Best Mortgage With Help From Our Experts
Get a free consultation from a mortgage advisor today
-
Tailored advice from an expert
-
Get the best deal available for you
-
Save more with our partner services
How to compare rates and deals
With so many lenders offering tracker deals, different time periods to choose from and rates to work off, it can be time-consuming to search to do a manual Internet search for the one that’s best for you. Instead, to save time and potentially money, you should:
Seek expert help.
A broker specialising in tracker mortgages will already be up-to-date on the latest market movements, which means they’ll be able to compare mortgage tracker rates much quicker than you can and source those more exclusive ones you may not come across as an individual applicant.
Related Articles
Additional fees to factor in
As with any mortgage, there are other costs that you’ll incur when securing a tracker mortgage deal, which could involve an administration, product or booking fee.
Some lenders charge this as a set price, such as Royal Bank of Scotland, which charges £995 and Leeds Building Society, which charges £999, but others, such as CHL Mortgages, charge it as a percentage of the loan, which can be added onto your tracker rate. For example, a 3% fee leaves the 3-year fixed tracker rate at 5.53%, but dropping the fee to 2% increases the rate to 5.94%.
Other fees that might arise include early repayment charges or exit fees should you wish to overpay on your mortgage or end the deal earlier than planned. Each lender will have a cap on how much they’ll allow you to overpay – typically 10% in a year – and the fee for exceeding that. An exit fee could be anywhere from £50 to £300.
However, there are a few mortgage providers who offer tracker mortgages with no fees, but whether you can access one of these depends on your circumstances and loan-to-value/deposit. A broker will be able to share which lenders offer the best no-fee tracker mortgages for you to consider.
Related Articles
Are the rates any different for remortgages?
Most lenders offer similar rates to those remortgaging onto a tracker mortgage compared to those taking out a mortgage for the first time. After all, tracker deals tend to come with such short periods that many opt to remortgage, either to another tracker rate or a fixed rate, to avoid slipping onto their lender’s standard variable rate, which is usually higher.
Speak to a broker who specialises in tracker mortgages
What introductory period to opt for? Which lender to choose? Is this the best approach in the current market? These are all questions you have to ask as you embark on a tracker variable rate mortgage search.
To ensure you don’t make a misstep or miss out on the cheapest base rate tracker mortgage available, expert help is almost a necessity. Our brokers source such mortgages for applicants on a daily basis and, therefore, already have ample knowledge of the current tracker mortgage market and which lender is likely to get you the lowest rate.
To take a free consultation with a broker specifically matched to your situation, call 0330 818 7026 or fill out our enquiry form.
FAQs
If your tracker mortgage follows the BoE base rate, it will change as and when it does. The BofE committee meets eight times a year, so should the decision be to move the base rate either up or down, it could change every time after this.
It’s important to note that this is where a variable-rate mortgage can be riskier than a fixed-rate equivalent, where the payments will always remain the same throughout the term of the deal.
Pete Mugleston
CeMAP Mortgage Advisor, MD
Pete, a CeMAP-qualified mortgage advisor and an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete successfully went the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained and his love of helping people reach their goals led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.
Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!
Superb response and knowledgeable advisor
Steve, the financial advisor, contacted me within the hour and was very friendly, knowledgeable and professional. He seemed to relish my non standard requirement, diligently kept me updated during the day and we struck up a great relationship. Very impressed.
Peter Costello
Knowledgeable and Supportive
The team were fantastic and really knowledgeable and supportive. They answered all questions promptly and came back to me with regular updates. I have already recommended them and will use them again.
Dorothy
Prompt and Professional
A very prompt and professional service. The advise and guidance has been so valuable as a first time buyer.
Ayesha
Ask a quick question
We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in Tracker Mortgages
Ask us a question and we'll get the best expert to help.