Tracker Mortgages a Good Bet?

Hi,

Getting a tracker mortgage is a good idea right now, sound obvious doesn’t it.

For instance the 0.5% cut to 1.5% last week means a saving of nearly £50 per month on a tracker mortgage of £200k.

Although not all lenders are passing the recent interest rate cuts to their customers.

Nationwide, Norwich & Peterborough or Skipton building societies are among a number of lenders who have not automatically passed on the saving.

Actually there was a deal with the Cheltenham & Gloucester (C&G) where some customers got a home loan at 1.01% below bank rate, should interest rates fall again, they could be just paying of the capital only.

You see it pays to keep in touch with your local, friendly mortgage adviser.

Take care talk soon.

Michael

Need advice, please call 01276 670777. I’d love to speak to you.

www.mumsltd.co.uk

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