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2 Year Variable Base Rate Tracker Mortgage - Large Loan
A Base Rate Tracker mortgage has an interest rate that is linked directly to the Bank of England Base Rate. When a change to the Bank of England Base Rate occurs, the interest rate and monthly repayments will change also.
Representative example
A mortgage of £1,110,300.00 over 26 years on an initial variable rate currently at 6.09% for 2 years followed by our standard variable rate currently at 6.94% for the remaining 24 years would require 24 monthly payments of £7116.66 and 288 monthly payments of £7682.06. The total amount payable would be £2,383,363.12 made up of the loan amount of £1,110,300.00 plus interest of £1,273,063.12, including a Valuation fee of £985 and a product fee of £1999. The representative example is for illustration only. Your actual costs and monthly payment will vary depending on your mortgage
Good to Know
- Variable rate product over a set period of time
- You need to be comfortable that if interest rates rise your monthly payments will subsequently increase
- Variable rate products are usually popular in times of low or falling interest rates
- Following a change to the Bank of England Base Rate your mortgage payment will also change
- Available for Interest Only
Summary information
Interest Rates
0.84% above the Bank of England Base Rate (currently 5.25%) until 31st October 2026. This is subject to a product floor of 1.50% until 31st October 2026.
Maturity Date
31 October 2026
Maximum Loan to Value (LTV)
65%
Loan Amount
£2,000,001 to £3,000,000
Daily Interest Calculation
Interest is calculated on the balance of your account at the end of each day. Interest is accrued daily and added to your account balance on the last day of every month. Every cleared payment that is made reduces the mortgage balance and interest is recalculated on the reduced balance.
Minimum Term
2 Years
Reservation Fee
0
Completion Fee
£1999
Incentives
N/A
Early Repayment Charge
N/A
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YOUR MORTGAGE WILL BE SECURED ON YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE