Base rate tracker mortgages
Overview
The interest rate is a fixed percentage above the Bank of England’s UK Repo Rate (Bank Base Rate) for the mortgage term. So if Bank Base Rate rises, up goes your monthly repayment; if it drops, down goes your monthly repayment.
The interest rate is a variable rate which tracks UK Bank Base Rate for the mortgage term.
All you need to know about base rate tracker mortgages.
Base rate tracker mortgage BBR +1.64%
| Loan amount | Variable rate for the whole of the mortgage | The overall cost for comparison is | |
|---|---|---|---|
| £100,000 and over % | 6.64%, variable | 7.2% APR | Apply |
| Reservation fee - £499| Early Repayment Charge if you repay all of this mortgage within the first 2 years | LTV 75% | | |||
Addtional repayments of up to 10% of initial advance permitted each year during redemption period subject to £10,000 cap.
The variable rate payable for the rest of the mortgage is based on current interest rates.
These mortgages apply to Gibraltar properties only.