Tracker Mortgages – Are They Worth The Gamble?
How well do you know the money market? A tracker rate mortgage has a variable rate, usually a set percentage above or below the Bank of England’s base rate.
How well do you know the money market? A tracker rate mortgage has a variable rate, usually a set percentage above or below the Bank of England’s base rate.
For many people, purchasing a home is one of the largest and most important investments they will make after their education. It is important to make sure you choose the right mortgage, one you will be able to pay off within a reasonable amount of time.
Nothing is ever certain in the world of finances, and there’s no way of predicting how the market will change in the future. However, if you want to be able to plan your budget precisely, then a fixed rate mortgage might be the right option.
Just a few short years ago, many people were amazed by the prospect of a 40 year mortgage. While 30 year mortgages had dominated the market for decades, the idea of being able to spread out your mortgage payments over forty years was just almost too much to comprehend.