This was due mainly to the fact that everyone wants
their mortgage linked to a rate that is reducing.
In the lest 5 years the bank base rate has been on a
steady decline and other than a couple of minor rises
late last year and early this year is still at levels
not seen in thirty years.
![](images/base-rate-tracker.gif)
In addition historically lenders have been slow to
change their mortgage variable rate and as a lot of
mortgage customers are either on standard variable rate
or a discounted mortgage off the variable rate, being
tied to a rate that is slow to change can be financially
costly.
Much like a variable rate discount mortgage all a base
rate tracker is, is a mortgage that tracks the fall and
rise of the bank of England base rate. Some base rate
trackers have a built in discount and some are just a
set percentage or part thereof over the banks base rate.
![FSA declaration and important text about mortgage advice](images/caviat.gif)
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