A tracker mortgage is a type of variable rate mortgage which tracks a nominated interest rate, usually the Bank of England base rate. The actual mortgage rate you pay will be a set interest rate above or below the rate tracked. When rate tracked goes up, your mortgage rate will go up by the same amount. And it’ll come down when rate tracked comes down.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.

  • If the rates go down you pay less interest on your mortgage
  • Only changes to the what the lender uses as its base rate will affect your rate
A tracker rate mortgage, means your interest will rise and fall in line with another interest rate
If the rate drops, your monthly mortgage payments will also drop
You can pay up to 10% of your outstanding balance each year without incurring an Early Repayment Charge.


JAMme works across the whole market to find the right mortgage for you.