This is a type of variable rate mortgage. The rate of interest tracks the Bank of England’s base rate at a set margin at percentage above or below it. Deals for tracker mortgages can last for a short amount of time as a year or as long as the loan’s lifespan. When your tracker deal ends your lender usually automatically transfers you onto its standard variable rate, which will probably have a higher rate of interest. Our expert advisors can inform you on the best option suited to your requirements.