TRACKER:

A tracker mortgage is a type of variable mortgage but it closely follows the base rate,with the lenders percentage margin pre-agreed and known to the borrower.For example a tracker mortgage could be agreed that it will always be 5% above the base rate.

CAPPED RATE:

A capped rate mortgage is a variable mortgage normally in the form of a tracker where the interest rate will not rise above a pre-determined amount
even if the base rate does.

COLLARED:

A collared rate mortgage is a variable mortgage ,but opposite from a capped rate because it is designed for the percentage to remain constant if the base rate falls below a certain threshold.It is possible to get both a capped & collared mortgage in one.

There are as much as 18,000 mortgage offers on the market at any one time(source - Alexander Hall) however a good mortgage advisor will try there best to qualify for you a mortgage that matches your needs best.Once you and the mortgage advisor have agreed on one you will then be on step number 2 of the mortgage gauntlet.Click here for all the steps you need to take in total to be moved into your new property.