Tracker Rate Mortgages

Link your interest rate to the Bank of England base rate.

What’s a Tracker Rate Mortgage?

A Tracker Rate Mortgage sets your interest rate at a set percentage above the Bank of England base rate, then tracks it. That means your interest rate will go up and down as much as the Bank of England base rate does. 

 

At first direct we call our Tracker Rate a Lifetime Tracker. This is because the rate is booked for your remaining mortgage term, or until you decide to change your rate should a more suitable one become available. 

Key features

  • your interest rate is variable and is set at an agreed percentage above the Bank of England Base Rate

  • your monthly payments will change when the Bank of England Base Rate changes

  • ability to change your rate at any point with no fees

  • no Early Repayment Charges or Closure Fees

  • you can make unlimited overpayments to your mortgage whenever you like – with no Early Repayment Charge if you repay your whole mortgage at any point

  • this rate is portable, meaning you can move this rate to a new property in the future* 

  • available on Repayment and Offset Mortgages

*subject to assessment and criteria

Ready to apply?

Our mortgage calculator shows how much you could borrow, potential rates, and how changes could affect your repayments – helping you find the right mortgage.

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Think carefully before securing other debts against your home. Your home may be repossessed if you don't keep up repayments on your mortgage.

Our other mortgages…

Do you want to fix your rate?

Know exactly what you’re paying each month with our Fixed Rate Mortgage. You can fix your rate for an agreed time, such as 2 or 5 years.
Fixed rate mortgages

Want some flexibility?

Make unlimited overpayments with no Early Repayment Charges with our Standard Variable Rate Mortgage. The interest rate is set by us and may change from time to time.
Standard variable rate