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Correct at 06/09/2021

Apply for a Tracker mortgage with L&C today

Looking for a tracker mortgage? We can help you find the best deal to suit your needs and keep your monthly mortgage costs to a minimum.

Find out which tracker mortgage deals you could be eligible for, either over the phone or using our online Mortgage Finder. Here at L&C we have expert advisers on hand to find the best deal for you, comparing deals from across the market.

Our support doesn’t end when we’ve found you the right mortgage deal either. We’ll help you through the application process from start to finish, making everything straightforward and hassle-free.

Get started online

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Finding the best tracker mortgage deal

A tracker mortgage, as the name suggests, usually tracks the Bank of England Base Rate plus a set margin. They’re variable rate mortgage deals, which means your payments may move up and down over time in line with any Base Rate changes.

As the Base Rate is currently very low, there are some fantastic tracker mortgage deals to choose from.

Remember though, because tracker rates can go up or down, you must be prepared that your payments could go up as well as down. Only fixed rate mortgages provide certainty that your payments will remain the same regardless of what happens to interest rates. To find out whether a tracker mortgage is the right option for you, speak to one of our mortgage experts.

You can read more in our guide 'What is a tracker mortgage?'

Tracker mortgage FAQs

How does a tracker mortgage work?

A tracker mortgage usually tracks the Bank of England Base Rate plus a set percentage. So if you choose a tracker deal which is advertised as ‘Base Rate plus 1.30%’, it means your payable rate will be the current Base Rate with 1.30% added to this.

What is a lifetime tracker mortgage?

A lifetime tracker mortgage typically tracks the Bank of England Base Rate plus a set margin for the whole mortgage term, rather than just an introductory period.

Should I get a fixed rate or tracker mortgage?

If you’re happy for your monthly mortgage payments to move up or down, then you may prefer a tracker mortgage, but if you want the certainty of payments that won’t change, a fixed rate mortgage might suit you better.

What is a Base Rate tracker mortgage?

A base rate tracker mortgage is a mortgage that tracks the Bank of England Base Rate plus a set percentage. Most tracker mortgages are Base Rate trackers, although some trackers might track a different external interest rate.