Comparing Mortgages

I have more than one mortgages. Most of them are on a fixed rate. This means that the interests can go up or down but it will not affect the amount of mortgage payment I have. I find that I like it that way. True, I missed out on the big savings when the interest rate go down, but on the other hand, I don't have to scamper around to cover the rise in interest when that happens.

One of my properties have variable interest rate. For the first year, it was alrigt because nothing much had changed. But this year alone have made my payments change (+/-)75 dollars. If the property is a rental, it's a pain. It's not like I can also raise and lower my tenants rent as changes happens. If you have variable rates, then Tracker Mortgages can help with keeping up with the changes in rates. Here's why you should visit this site if you're thinking of buying a property:
The tracker mortgage differs from the Standard Variable Rate (STV) in that the interest rate is directly tied to the Bank of England base rate, and does not follow the lender’s rate, which would always be higher. The incentive, particularly to the first time buyer, is that the margin is set to a maximum of only 1% or 2% above the Bank of England base rate. And in some extraordinary cases it may even be set below the rate. This means that repayments during the life of the tracker offer, (usually from 2 to 5 years), are invariably cheaper than with other standard mortgages.

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