Can you have part of your mortgage on a fixed rate and part on a base rate tracker?

by Aaron Strutt

Apr 17 2026

Can you have part of your mortgage on a fixed rate and part on a tracker?

Yes, some lenders do allow it. Barclays, Santander, Skipton Building Society, TSB and HSBC all allow many borrowers to split a mortgage so that one part is on a fixed rate and another part is on a tracker, although the rules and fees vary. Barclays says the mortgage rate parts need to be in the same loan-to-value band, and you would normally pay the higher of the two fees.

Santander allows up to four product types, but arrangement fees may apply to each part. TSB says if both products carry a fee, both fees are payable. HSBC and Halifax also allow it, but if both parts have a product fee, two fees are due. Coutts is one of the private banks that allow mortgages on a fixed-rate basis and in part on a tracker basis.

What is the difference between a fixed rate and a tracker?

A fixed-rate mortgage gives you a guaranteed rate for a set period, usually two, three or five years. Your monthly payment stays the same during that deal period, which is why it appeals to people who like certainty. A tracker mortgage moves in line with an external rate, usually the Bank of England base rate plus a set percentage. 

Why would someone take part fixed and part tracker?

It can be a halfway house. Part fixed gives you some security. You know a chunk of the mortgage is protected if rates stay high or rise again. Part tracker gives you flexibility and the chance to benefit if rates fall.

That can suit borrowers who do not want to put the whole mortgage on one bet. Instead of going fully fixed or fully variable, they spread the risk. If rates fall, the tracker side could get cheaper. If rates do not fall, at least the fixed part provides some protection.

What are the benefits?

The main one is balance. You get some payment certainty without giving up all of the upside if rates come down. It can also help borrowers who are nervous about the current market, but do not want to commit every penny of their mortgage to a fixed deal today.

Another plus is flexibility. Tracker products sometimes have lower or no early repayment charges, depending on the lender and product, so splitting the mortgage can give a borrower more room to overpay, refinance or review options later. That said, this depends entirely on the product, so it needs to be checked carefully.

It can also be useful for borrowers who think rates may edge down over time, but who are not confident enough to leave the whole mortgage exposed. That feels relevant at the moment because the Bank of England has held Bank Rate at 3.75%, but inflation has moved back up, which makes the near-term path for rates less predictable.

What are the downsides?

The biggest downside is complexity. Aaron Strutt, product director at Trinity Financial, says: "You are effectively taking out two mortgage products at the same time, which can mean two different rates, two end dates, two sets of terms and, with some lenders, two product fees. Santander, TSB and HSBC all indicate that multiple fees can apply depending on the products chosen. Barclays often charges a one-product fee when a fixed/tracker rate combination is taken.

"There is also a risk that the tracker side becomes more expensive than expected. If inflation stays sticky or external shocks keep prices under pressure, the Bank of England may be slower to cut rates than borrowers hope. More borrowers are taking tracker rates at the moment as some tracker rates are much cheaper than the lowest fixes. Part interest-only and part capital-repayment mortgages are also still popular with our clients."

Is it worth taking the risk in the current economic outlook?

That depends on the borrower, not just the market. The current backdrop is mixed. Bank Rate is 3.75%. Inflation has risen to 3.3%. The Bank of England said in February that underlying UK GDP growth remained subdued. In other words, this is not a clear-cut market where rates are obviously about to tumble. It is a market where things could improve, but there is still enough inflation pressure and uncertainty to keep borrowers cautious.

For cautious borrowers, a full fixed rate may still feel more comfortable because it removes uncertainty. For confident borrowers with room in their budget, a part fixed and part tracker mortgage can be a sensible compromise. It gives some protection now and some exposure to future rate cuts.

A part fixed, part tracker mortgage can work well if you want a blend of security and flexibility.

The upside is that you do not have to go all in on one view of the market. The downside is that you may pay extra fees and take on more moving parts. In the current climate, where inflation is still above target and rate cuts are not guaranteed on any set timetable, it can be a sensible middle ground for the right borrower. If you don't want to take the risk or cannot afford an increase in monthly costs, it makes sense to simply opt for a fixed rate. 

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7016 0790 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change.

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