2 Year Base Rate Tracker Mortgage
A Base Rate Tracker mortgage has an interest rate that is linked directly to the Bank of England Base Rate. When a change to the Bank of England Base Rate occurs, the interest rate and monthly repayments will change also.
A mortgage of £143,698 over 30 years on an initial variable rate currently at 610% for 2 years followed by our standard variable rate currently at 6.94% for the remaining 28 years would require 24 monthly payments of £870.80 and 336 monthly payments of £946.77. The total amount payable would be £340,407.92 made up of the loan amount of £143,698 plus interest of £196,709.92, including a Valuation fee of £265 and a product fee of £999. The representative example is for illustration only. Your actual costs and monthly payment will vary depending on your mortgage
Good to Know
- Variable rate product over a set period of time
- You need to be comfortable that if interest rates rise your monthly payments will subsequently increase
- Variable rate products are usually popular in times of low or falling interest rates
- Following a change to the Bank of England Base Rate your mortgage payment will also change
0.85% above the Bank of England Base Rate (currently 5.25%) until 30th June 2026. This is subject to a product floor of 1.50% until 30th June 2026.
30 June 2026
Maximum Loan to Value (LTV)
£30,000 - £750,000
Daily Interest Calculation
Interest is calculated on the balance of your account at the end of each day. Interest is accrued daily and added to your account balance on the last day of every month. Every cleared payment that is made reduces the mortgage balance and interest is recalculated on the reduced balance.
Early Repayment Charge
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YOUR MORTGAGE WILL BE SECURED ON YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE