Sentence examples for tracker rate from inspiring English sources

But the tracker rate at which lenders traditionally offer floating-rate mortgages has diverged from it sharply.

The Halifax said it would pass on the rate cut in full to all its tracker rate customers, brushing aside a previous downward limit on rates.

Nationwide had already warned 200,000 of its tracker rate mortgage customers that they would not see further falls in interest rates below 2%.

HSBC upped its tracker rate for new borrowers on Wednesday, by 0.31%, apparently to pre-empt the predicted base rate cut from the Bank of England.

Borrowers can go for a cheaper tracker rate now and then switch to a more secure fixed rate when interest rates start creeping up.

The decision by HSBC to lift its tracker rate to 3.95% from 3.64% - widening its profit margin against the 2% base rate - followed heavy demand for the product in a mortgage market bereft of competition.

Tracker rates account for about 40% of all mortgages.

Bank of Ireland revealed today that 62% of its 161,000 mortgage accounts are on tracker rates.

"Many borrowers on tracker rates are likely to benefit from a reduction in Bank rate," says the Council of Mortgage Lenders.

Its closest competitor is its own subsidiary, First Direct, which is expected to shift its tracker rates too.

It said borrowers are turning to longer fixed-rate mortgages for peace of mind, despite the fact tracker rates have been cheaper than fixed rates since October 2007.