Tracker Mortgage

Tell me how you can help me arrange a tracker mortgage

When you want to arrange a tracker mortgage, Worldwide offer you a straightforward, swift and easy to access service.

One click or call is all it takes.

Call your FT award winning independent mortgage broker in confidence now on 0800 0112825 or complete the contact form and your dedicated broker will contact you to see how we can help you.

What happens when I contact you?

As soon as you call us, you will be appointed a dedicated independent mortgage broker.

At a time that suits you, your broker will discuss with you all your tracker mortgage requirements along with your current circumstances.

Your discussion can take place over the phone, or you can meet us in person; whatever you prefer.

The initial consultation with your mortgage broker is free of any charge or obligation.

We also offer you our fee guarantee: you won’t pay any fees unless we can help you.

As soon as your broker is clear about what you want, they will search the entire UK marketplace to find the ideal tracker mortgage for you.

Your broker will return to you as soon as they have found a suitable solution and when you are happy to proceed, they will begin the application process by gaining an agreement in principle from the lender. This can usually be done in a matter of hours.

From that point, your independent mortgage broker will be supporting you every step of the way along your tracker mortgage application process.

Throughout, your broker will be on hand with advice and to answer any questions you have and if you need assistance with any other financial issue, such as commercial finance, investments or pensions, you have Worldwide’s team of specialists with their combined years of experience on hand to help.

Is a tracker mortgage available to first time buyers?

Yes, a tracker mortgage is available to both first time buyers and existing homeowners. Whatever your situation, Worldwide’s independent mortgage brokers can help you arrange this type of mortgage.

Does a tracker mortgage only last for a fixed period?

It doesn’t have to. It can be arranged for a fixed period after which you move to your lender’s Standard Variable Rate (SVR) or you can arrange to have a lifetime tracker mortgage. If you choose to have a set period on a tracker rate, the terms and conditions may include an early repayment charge.

What does it cost to arrange a tracker mortgage?

The costs for arranging a tracker mortgage are the same as they are for a standard mortgage. These costs will include:

• Arrangement fees

• Legal fees

• Valuation fees

• Stamp Duty (depending on the purchase price of your property)

• Broker’s fee

What are the advantages and disadvantages of a tracker mortgage?

The advantages and disadvantages are as follows:

• Advantages – Because the interest rate that you pay on the mortgage ‘tracks’ the Bank of England’s base rate, the interest rate you pay will rise or fall in line with this so you will benefit from falling and low interest rates which will lower your monthly payments.

• Disadvantages – it may make budgeting more difficult as interest rates can rise as well as fall, and unlike a fixed rate mortgage you won’t know for certain what you will be paying each month. For example, one month your interest rate could be base rate at 0.5% plus 2.5%, giving you a total of 3%; the next month, the base rate could rise to 1%, giving you a total of 3.5%

Your independent mortgage broker can help you to consider all the pros and cons of a tracker mortgage so you can decide if it’s right for you.

So if you’d like us to help you arrange your tracker mortgage, call us today.

Remember: You won’t pay any fees unless we can help you.

Call your FT award winning independent mortgage broker in confidence now on 0800 0112825 or complete the contact form and your dedicated broker will contact you.

Your home may be repossessed if you do not keep up repayments on your mortgage.