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Tracker Rate Mortgages

Our Tracker Rate mortgages link your interest rate to the Bank of England (BoE) base rate (currently 3.75%). As the name suggests, your mortgage will track this rate for a fixed amount of time, meaning your interest rate has the potential to go up or down.

How does it work?

  • Your interest rate will be a specified amount above the Bank of England base rate during the fixed term.
  • Your interest rate will go up or down in line with any changes to the Bank of England base rate.
  • If the Bank of England base rate goes up, your mortgage payments will increase.
  • If the Bank of England base rate goes down, your mortgage payments will decrease.
  • In the months where your payment decreases (and your chosen mortgage’s terms and conditions allows) you may have the option to overpay. This could help you to pay your mortgage off faster.
  • During the fixed term, the interest rate won’t go under 0.50%, even if the Bank of England base rate drops below this. This is sometimes referred to as an interest rate ‘floor’.

You can only apply for these products using our advised service, meaning you can't apply for them online. Please book an appointment using the options below.

Your property could be repossessed if you don't keep up your mortgage repayments.

First Time Buyer Only 2 Year Tracker Rate Mortgages

Initial rate variable up to and inc. 31/05/2028, (currently)TermsThen changing to the Society's current Standard Variable Rate (SVR) for the remaining term of the mortgageOverall cost for comparison (APRC)Maximum loan to value (LTV)Product Fee
4.10% BoE base rate + 0.35%7.74%7.3%75%£999 View
Max loan amount £2,000,000 / It's not possible to apply for this product online.

Legal Assisted 2 Year Tracker Rate Mortgages

Initial rate variable up to and inc. 31/05/2028, (currently)TermsThen changing to the Society's current Standard Variable Rate (SVR) for the remaining term of the mortgageOverall cost for comparison (APRC)Maximum loan to value (LTV)Product Fee
4.10% BoE base rate + 0.35%7.74%7.3%75%£999 View
Max loan amount £2,000,000 / It's not possible to apply for this product online.
RATES CORRECT AS AT 05 February 2026

Representative Example

A mortgage of £190,000.00 payable over 25 years on a tracker rate for 2 years at 0.35% above the Bank of England base rate and then on our current Standard Variable Rate of 7.74% for the remaining 23 years would require 24 monthly payments of £1012.45 and 276 monthly payments of £1403.59.

The total amount payable would be £412,723.64 made up of the loan amount plus interest of £221,689.64 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 7.3% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

This example has been calculated on a Capital & Interest repayment method. The monthly payments, total amount payable and interest charged all reflect this calculation method.

Key details about this product range

  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • No Early Repayment Charges apply.
  • Unlimited capital repayments are allowed.
  • Interest calculated daily.
  • Free standard valuation up to £999.
  • This product is not available to interest only applications.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.

For more detail about specific products, visit the links in the table above.

Our mortgage calculators

Affordability calculator

Get an idea of how much you could borrow, based on your income and spending.

Repayment calculator

Work out how much you'd need to pay each month towards your mortgage.

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If you need help or support with an existing application, call us on 03450 50 50 62.

If you want to speak to someone in our mortgage team about a new application, book a telephone appointment online using the 'book an appointment' button.

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