a variable rate mortgage which always follows the Bank of England s Base Rate for the whole of the mortgage term, so your payments will change in accordance with external market interest rates
a variable rate mortgage with a difference
a variation on a standard variable rate
These are schemes with a variable rate set above or below the Bank of England Base Rate.
This where a lender offers a mortgage at an interest rate that is tied into, but a percentage above, the Bank of England base rate, as opposed to a percentage below their own individual standard variable rate. This means the change in interest rate is immediate if the Bank of England alters its rate. With a discount rate, some lenders have been criticised for delaying or not passing on any drop in the interest rate, but applying any increase immediately.
These mortgages track the changes in base rate and so the interest rate you pay changes in line with this.
Tracks movements in the Bank of England base rate so that you benefit quickly from a fall in interest rates.
A mortgage with a rate of interest linked directly to the movement of the Bank of England Base Rate.
A mortgage with an interest rate that follows the movement of the Bank of England's base rate - up or down according to the state of the national economy.
A mortgage with an interest rate (a set margin above) that follows the movement of either the Bank of England's or lender's base rate which can go up or down depending on the decisions of the Bank of England Monetary Committee.
This kind of mortage has an interest rate which follows the Bank of England's base rate. This means that your monthly repayments go up when the base rate goes up, and go down when the base rate goes d (More)
This is a variable mortgage that is either above or below the Bank of England's Base Rate by a set percentage within a set period.
These types of mortgage rise and fall with the base rate set by the Bank of England, and are pegged to it. Tracker mortgages will accrue interest at a certain percentage above the base rate.
Is a mortgage product linked to a benchmark interest rate, such as the Bank of England base rate, usually for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate will apply.