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The most common type of variable mortgage rate on the market is a tracker. These deals are usually set a few percentage points above Bank rate and mirror changes in the benchmark interest rate.

Aaron Strutt of Trinity Financial, a broker, said: “The lender has total control over the amount you pay. Banks and mutuals can raise their standard variable rates at any time, without any movement in Bank rate.”

Click here to view Trinity Financial in The Sunday Times £

We are not responsible for the accuracy of the information contained within the linked sites accessible from this page.

December 15, 2013
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