This is Money/Mail request: Are you seeing more people consider tracker mortgages?

We are seeing more people ask about trackers, but asking is not the same as recommending. A tracker can make sense for someone with strong surplus income, flexibility and the stomach for payments moving around. It is not ideal for a borrower already nervous about the jump from a 2021 fixed rate.

For many households, the issue is not whether they can be clever with rates. It is whether they can sleep at night knowing the payment is stable. That is why fixed rates still have a very important place, especially for clients coming off ultra-cheap deals.

Longer terms and interest-only can help with monthly payments, but they should not be treated like free solutions. A longer term means more interest over time, and interest-only needs a credible repayment plan.

The right mortgage now is not about guessing the Bank of England. It is about stress-testing the client’s real life: income, savings, family costs, job security and how much payment movement they can actually cope with.

There is certainly more interest in trackers, especially where some are up to 0.6% below equivalent fixed deals, with little or no early repayment charges to worry about. The sub-4% tracker with Barclays is of particular interest to many looking for that flexibility whilst knowing they will save money even if there are 2 normal base rate increases this year. It’s about educating borrowers about Benefits and concerns of trackers over fixed deals, and won’t be ideal for many who prefer stability, buts it’s definitely a topic of hot discussion at the moment.

I discuss trackers with clients, point out the pro's and con's but ultimately the surety of fixing wins the day even if fixed rates are that little bit higher.

For many borrowers, the question is no longer just “what is the cheapest rate?” but “how long do I really want to be tied in?” Many people coming off very low 2021 fixes do not believe rates will stay at current levels long term. That has made two- and three-year fixes popular, but trackers and discount rates are also coming up more often.

A tracker can work where there is enough disposable income to absorb payment changes. But not everyone has that choice. Some borrowers now need a five-year fix simply to meet lender affordability rules, leaving them stuck and potentially paying hundreds more than if they could take a shorter fix. Rate cuts are not guaranteed. Trump has several years left in the White House, the UK has its own political and economic instability, and rates could move up as easily as down. Borrowers should not take a tracker unless they can cope with that risk.

We're certainly seeing more borrowers consider tracker mortgages than we were a year or two ago. The appeal is that rates are expected to fall gradually over time, and trackers allow borrowers to benefit immediately from any future Bank of England rate cuts without being locked into a fixed deal. They can also offer greater flexibility, with many products carrying lower or no early repayment charges.

That said, fixes remain the right choice for many households. A fixed-rate mortgage provides certainty at a time when household budgets are still under pressure. For borrowers who value knowing exactly what will leave their bank account each month, paying a small premium for that peace of mind can be worthwhile.

The short answer is yes. More clients are asking about tracker mortgages, but they’re not automatically the best fit.
What I’m really seeing is people wanting flexibility after coming off those lower 2021 fixes. Trackers can give that sense of freedom because there are usually no early repayment charges, and clients like the idea of being able to switch quickly if rates fall.

That said, fixes still suit a huge number of households, especially anyone who needs stability in their monthly budget.

Right now, the “right” mortgage isn’t about the product, it’s about the person.
I’m spending more time modelling different scenarios with clients. For examples: What if rates drop sooner than expected? What if income changes?

For many, the best approach is a “safety first” fix, but for others, especially those expecting lump sums, bonuses, or planning to move, a tracker with no ERCs is the smarter play.

In short, people are exploring trackers more than before, but the decision s