A tracker mortgage is a type of variable rate mortgage which means the amount you pay could change each month.

A tracker mortgage “tracks” a base rate and in most cases this is usually the Bank of England’s base rate.

If decide to select a tracker mortgage as your preferred product, your mortgage repayments (including the interest you pay on your mortgage) could change every month.

Depending on the rate that is tracked, the change could mean the amount you pay could not only go up but go down also.