Tracker Mortgage

By Justin Whitelock

Founder of Mortgage London (a trading style of City Finance Brokers Limited, authorised and regulated by the Financial Conduct Authority, FCA No. 766295)

A mortgage where the interest rate moves in line with a named benchmark, usually by a set margin above the Bank of England base rate.

Related glossary terms

Freehold

Ownership of a property and the land it stands on for an unlimited period, rather than for a fixed lease term.

Standard Variable Rate (SVR)

The lender’s own variable mortgage rate that often applies after an introductory deal ends, subject to lender changes.

Non-UK Resident

A person treated as resident outside the UK for relevant purposes, distinct from the foreign national category.

Yield (Rental Yield)

A measure of the income return on a buy-to-let or investment property, usually expressed as a percentage, calculated gross or net of costs.