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Tracker mortgages follow changes in the base rate, with a constant differential being maintained between the base rate and the mortgage interest rate.


Tracker mortgages tend to have a smaller difference above the base rate, down to around 0.75% or even lower, and they are guaranteed to rise and fall with the base rate.


This means if the base rate rises your monthly payments will rise. If the base rate falls your monthly payments will fall.


The period for which the tracker mortgage applies may be for a fixed term only, say 5 years, after which time the interest rate will revert to the lender’s standard variable rate. Tracker mortgages are also available that persist for the full term of the mortgage.





  • The interest rate payable ill usually be lower than the lender’s standard variable rate.
  • You can benefit from all drops in the Bank of England’s base rate as they will always lead to an equivalent fall in your tracker mortgage’s interest rate.





  • Early repayment charges may apply. This means you will be unable to change your mortgage during the ‘early repayment charge period’ without paying a fee. Which may be up to the value of six months mortgage repayments.
  • The bank of England base rate can be unpredictable and can increase rapidly, resulting in an increase in your monthly payments.
  • It is less easy to budget as the interest rate can and will vary.


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


For mortgages we are paid NO FEE. We will be paid commission by the lender.




At Town & Country Mortgages our priority is always to provide quality advice and service to our customers.
We strive to ask all our customers to provide feedback and below are extracts from questionnaires completed by our customers in 2014.

Additional to the already positive feedback given to your service and staff, I feel it worth mentioning it is due to the way in which Town & Country and in particular Oliver conducted themselves on my previous first house purchase as to why I used your services again.  I will be quick to recommend your services to anyone I know for mortgage advice and would definitely look to yourselves for any advice I require in the future.  Many thanks.

Mr McPherson July 21, 2017