Head office
Archdeacon House
Northgate Street
Ipswich
IP1 3BX
01473 927 365
Woodbridge Office
28 Church Street
Woodbridge
Suffolk
IP12 1DH
01394 388 488
Most of our attention has been centred on fixed rates over recent years,
as economic uncertainty grew and borrowers looked for some peace of mind.
With the Bank of England cutting the base rate to an all-time low of
0.25%, and questions being raised over the possibility of a further cut, there
is now likely to be more interest in tracker mortgages.
These are variable mortgages that move up or down in line with another rate
(usually the Bank of England Base Rate) and as such the monthly repayments are
also variable.
The potential for another drop in monthly payments will appeal to many.
Borrowers should check with their lenders however. In recent years some have
applied a collar to their deals, which would prevent monthly payments from going
down any further, even if base rate was to be cut again.
The variable nature of tracker mortgages mean that they will not be
suitable for everyone, and many borrowers will still prefer the security of a
fixed rate, especially as they are so low at the moment.
Archdeacon House
Northgate Street
Ipswich
IP1 3BX
01473 927 365
28 Church Street
Woodbridge
Suffolk
IP12 1DH
01394 388 488
5 & 6 Crescent Stables
Upper Richmond Road
Putney
London
SW15 2TN
020 4524 9345
Poplar Hall Barn
Low Road
Debenham
Suffolk
IP14 6BS
01449 723 500
Established in 2020, Halls + Halls offers 40 years’ of expertise in the real estate industry. Our team provides an easy to understand, non-negotiable fixed fee product to sell property.