Tel No: 020 8807 0352
About Mortgage Advisors
“We will tell you what you need to know” is the slogan that we pride our selves with. Our aim is to provide mortgage consultancy to our community in a professional manner and our one to one service helps our customers to minimise problems with their cases. Our mortgage advisors are experienced to resolve all problems that have arisen with applications till now.
Tracker Mortgage
The tracker rate will normally be quoted as a fixed percentage above the BoEBR (Bank of England base rate) and is usually put in place for a short period, although it can be attached to the home loan for its entire term. Once the tracker period expires the interest rate will convert to the lender’s Standard Variable Rate (SVR).
A typical example would be a tracker rate mortgage that has an interest rate of BoEBR+2% for three years. The BoEBR is set by the Bank of England Monetary Policy Committee (MPC) each month. The MPC will evaluate a range of economic indicators to decide whether a change in the base rate is necessary to meet the Government’s inflationary policies.
Because the interest rates attached to tracker mortgages are attached to the BoEBR, any movement will affect borrowers’ monthly repayments. Upward movements in the BoEBR are usually passed onto borrowers within a few days and downward movements within a month. Borrowers who do not want to be exposed to such fluctuations should consider applying for a fixed rate mortgage instead.
your property may be repossessed if you do not keep up repayments on your mortgage.
We charge a fee of £500 for each mortgage application, please be aware we also receive procreation from the lender which is rebated back to the client.
A typical example would be a tracker rate mortgage that has an interest rate of BoEBR+2% for three years. The BoEBR is set by the Bank of England Monetary Policy Committee (MPC) each month. The MPC will evaluate a range of economic indicators to decide whether a change in the base rate is necessary to meet the Government’s inflationary policies.
Because the interest rates attached to tracker mortgages are attached to the BoEBR, any movement will affect borrowers’ monthly repayments. Upward movements in the BoEBR are usually passed onto borrowers within a few days and downward movements within a month. Borrowers who do not want to be exposed to such fluctuations should consider applying for a fixed rate mortgage instead.
your property may be repossessed if you do not keep up repayments on your mortgage.
We charge a fee of £500 for each mortgage application, please be aware we also receive procreation from the lender which is rebated back to the client.