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Mortgages for first time buyers

Tracker mortgage deals

Trackers mortgages are a type of variable rate mortgage. Unlike other variable mortgages, the amount of interest paid is influenced by the Bank of England Base Rate.

Although tracker mortgages follow the base rate, they don’t necessarily match it. Instead, they tend to be a ‘margin’ above. Usually, each mortgage provider will add an extra percentage on top of the interest rate. For example, the mortgage provider may choose to charge the Base Rate plus 1.00%. So if the base rate is set at 0.5%, the interest rate charged will be 1.5%.

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What are the advantages of tracker mortgages?

Perhaps the key benefit of tracker mortgages is that if interest rates fall, so will the monthly repayments. And since introductory tracker rates can be among the lowest variable interest rates on the market, you could secure a great deal from the start.

A tracker mortgage could also see you paying lower arrangement fees and smaller early repayment charges. In some cases, lenders will allow their customers to switch to one of their fixed mortgages if rates go up, without the need to pay early repayment costs.

What are the disadvantages of tracker mortgages?

If interest rates go up, your repayments will rise. This could see your monthly outgoings increase significantly, forcing you to reassess your budget and make cutbacks elsewhere. To ensure you’re able to afford repayments in the event of an interest rate rise, you lender is likely to conduct several financial checks.

When the introductory rate period ends, you may automatically be moved onto a different rate offered by your lender. This is likely to be higher than the amount you paid at the start of your contract.

Thinking of remortgaging?

Remortgaging allows you to switch provider or mortgage products to save you money and to suit the changing requirements of your lifestyle.

Before remortgaging, or before you decide to remortgage with your existing provider, it is essential to speak with an independent mortgage expert.

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Mortgage Calculators

Our online mortgage calculators have been designed to help you with the most common mortgage questions such as ‘how much can I borrow?’ and ‘how much will it cost?’

To get a more accurate idea we recommend that you speak to one of our expert mortgage advisers.

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Why choose

We compare over 70 lenders

We compare over 70 lenders to ensure you get the very best mortgage deal suited to your lifestyle. We’ve been around for a long time and we know the mortgage providers inside out.


We offer a personal concierge service so you will meet us face to face. Our expert mortgage advisors will provide you with all the information you need to make an informed decision.

There are no hidden fees

You will never pay more than 1.95% of the mortgage balance. Our average fee is 1% and the minimum fee you will pay is £1295.

We make it quick and easy

We can get you a mortgage in as little as two weeks. We’ll help you fill out all of the forms and will never put you forward for anything you are not likely to be accepted for.

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With access to the entire mortgage market, the team at TaylorMade can help you find the most suitable mortgage product for your situation.

Whether you’re a first time buyer, a self employed small business owner or a buy-to-let investor, our mortgage experts can help you get a great deal.

To learn more about our service, please get in touch with one of our expert advisers.

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If you're unsure and need some advice just give us a call, our expert team of advisers are available to help you choose the mortgage that is right for you.

0345 305 2540

By clicking on the above link you will be leaving the regulated site of TaylorMade Finance Ltd. TaylorMade Finance Ltd is not responsible for the accuracy of the information contained within the linked site.

TaylorMade Finance Ltd is authorised and regulated by the Financial Conduct Authority.

Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details:

Your mortgage will be secured against your property.

Your home may be repossessed if you do not keep up repayments on your mortgage.

A fee of up to 1.95% of the mortgage amount, subject to a minimum fee of £1,295 and an overall maximum fee of £2,995 payable on completion.