Base rate tracker mortgages

A mortgage that is guaranteed to be in step with the Bank of England Base Rate (BOE) for a set period. With flexible benefits to give you the freedom to adapt your mortgage to the changing demands of your lifestyle.

Please note a valuation fee may be charged in accordance with the valuation fee scale.

The Cheshire offers three versions of each product, depending on the minimum deposit required. Please check the minimum deposit required on your chosen product by clicking on 'find out more' before applying.

What percentage of the property value
do you want to borrow?
               
2 Year Base Rate Tracker Mortgage
Initial rateChanging to a variable rate for the remainder of the termThe overall cost for comparisonEarly repayment chargeArrangement feeValuation fee
2.79% Variable for 2 years (2.29% above the Bank of England base rate, currently 0.50%)Standard Mortgage Rate currently 3.99%3.9% APRYes£999.00Yes
2 Year Base Rate Tracker Mortgage
Initial rateChanging to a variable rate for the remainder of the termThe overall cost for comparisonEarly repayment chargeArrangement feeValuation fee
3.39% Variable for 2 years (2.89% above the Bank of England base rate, currently 0.50%)Standard Mortgage Rate currently 3.99%4.0% APRYes£999.00Yes
2 Year Base Rate Tracker Mortgage
Initial rateChanging to a variable rate for the remainder of the termThe overall cost for comparisonEarly repayment chargeArrangement feeValuation fee
4.99% Variable for 2 years (4.49% above the Bank of England base rate, currently 0.50%)Standard Mortgage Rate currently 3.99%4.2% APRYes£999.00Yes
2 Year Base Rate Tracker Mortgage
Initial rateChanging to a variable rate for the remainder of the termThe overall cost for comparisonEarly repayment chargeArrangement feeValuation fee
2.79% Variable for 2 years (2.29% above the Bank of England base rate, currently 0.50%)Standard Mortgage Rate currently 3.99%3.9% APRYes£999.00Yes
2 Year Base Rate Tracker Mortgage
Initial rateChanging to a variable rate for the remainder of the termThe overall cost for comparisonEarly repayment chargeArrangement feeValuation fee
3.39% Variable for 2 years (2.89% above the Bank of England base rate, currently 0.50%)Standard Mortgage Rate currently 3.99%4.0% APRYes£999.00Yes
2 Year Base Rate Tracker Mortgage
Initial rateChanging to a variable rate for the remainder of the termThe overall cost for comparisonEarly repayment chargeArrangement feeValuation fee
4.99% Variable for 2 years (4.49% above the Bank of England base rate, currently 0.50%)Standard Mortgage Rate currently 3.99%4.2% APRYes£999.00Yes

More about Tracker Mortgages

Tracker mortgages shadow the Bank of England (BOE) Base Interest Rate - meaning that a customer’s monthly payment will vary depending on the BOE Base Interest Rate each month. The tracker mortgage percentage could be 'above' or 'below' the BOE Base Rate. For instance, if your tracker mortgage was 1.49% 'above' the BOE Base Rate then you would add 1.49% to the base rate in order to calculate the current interest rate.

A tracker mortgage shadows the BOE base rate, which means that with a tracker mortgage your payments will change every time the BOE base rate changes. After the initial tracker period of the mortgage has expired, the rate will revert to a variable interest rate for the remainder of the mortgage term.

Is a Tracker Mortgage right for me?

A tracker mortgage may appeal to borrowers who believe that interest rates could fall or remain low over the tracker period but are prepared to take the risk that interest rates could also increase.

What trackers do not offer is the stability of fixed monthly payments; the nature of this mortgage means that repayment amounts could fluctuate on a regular basis depending on the BOE base rate. If you are seeking more stable repayment rates then a fixed rate mortgage may be more suitable than a base rate tracker.

Other mortgage options

If a base rate tracker isn't the mortgage for you then there are plenty of alternatives available from the Cheshire. Potential mortgages that we could offer as an alternative to tracker mortgages are:

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