Base Rate Tracker Mortgages

What is a Base Rate Tracker Mortgage?
The interest rates on base rate tracker mortgages are linked to the base rate set by the Bank of England. This rate is reviewed once a month and reflects the cost of borrowing from the Bank of England. Base rate tracker mortgages gives the borrower assurance that his payments will rise and fall in line with base rate changes. Most lenders tend to charge a premium on base rate tracker mortgages.