5 Year Tracker Remortgages
5 Year Tracker Remortgages – 5 year tracker remortgages are remortgages that offer a tracker rate for the first 5 years of the mortgage. 5 year tracker remortgages usually move on to the lender’s standard variable rate after this 5 year period. During the 5 year tracker rate period, the interest rate on the remortgage will usually follow the Bank of England base rate.
There can be a number of advantages to securing 5 year tracker remortgages. If rates fall, 5 year tracker remortgages can be highly competitive, as the lender must follow base rate. Variable rates, on the other hand, may not fall as quickly and depend on wider market conditions. Even if base rates are unlikely to fall, 5 year tracker remortgages may offer competitive rates, as the borrower is taking on the risk of future rate rises.
At Capital Fortune, we have substantial experience arranging 5 year tracker remortgages for clients with a range of needs and requirements. We undertake a comprehensive panel of lenders mortgage search on behalf of clients, identifying which 5 year tracker remortgages are cost effective and competitive. Our personalised service ensures we recommend 5 year tracker remortgages that are affordable and suitable for your individual circumstances. Our service continues after you have secured your 5 year tracker remortgage, as we will check that you are still on the best deal when your package is eligible for renewal.
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