When choosing a mortgage, one of the biggest decisions is whether to fix your rate or track the market.
A fixed-rate mortgage keeps your payments the same for a set period, usually 2 to 5 years. This gives stability and makes budgeting easier, especially if interest rates rise.
A tracker mortgage moves with the Bank of England base rate, meaning your payments can go up or down. This can be cheaper when rates are low, but riskier if they increase.
There’s no one-size-fits-all answer. If you prefer certainty, fixing may suit you better. If you’re comfortable with some risk, tracking could save money over time.
Always compare total costs, not just the headline rate.
