Tracker Rate mortgages

We have a selection of Tracker Rate mortgages to choose from. Each one sets your interest rate at an agreed amount over the current Bank of England (BoE or UKBBR) base rate 0.75%. As the name suggests, your mortgage then tracks this rate for a fixed amount of time.

How does it work?

  • Your interest rates will go up or down in line with any changes to the BoE Base Rate.
  • Should the BoE base rate go up, your mortgage repayment will increase as well.
  • Should the BoE base rate go down, your mortgage repayment will decrease as well.
  • In months where mortgage payments fall – and your chosen mortgage allows – you have the option to over-pay. This helps pay off your mortgage quicker.

You can choose from applying online** or over the phone. Use our mortgage calculator and get a decision in principle today.


Legal Assisted 2 Year Base Rate Tracker Mortgages

Initial rate variable up to and inc. 31/08/2021, (currently)TermsThen changing to the Society's SVR less a discount of 1.25%, up to and inc. 31/08/2024, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
1.38% BoE base rate + 0.63%4.44%5.69%4.7%75%£999 View
Max loan amount £1,000,000
1.73% BoE base rate + 0.98%4.44%5.69%4.8%75%£0 View
Max loan amount £1,000,000

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £120,000.00 payable over 25 years initially on a tracker rate for 2 years at 0.98% above the UKBBR (currently 1.73%) and then a 1.25% discount on our current SVR of 5.69% for 3 years and then on our current SVR of 5.69% for the remaining 20 years would require 24 monthly payments of £492.73 and 36 monthly payments of £648.80 and 240 payments of £720.09.

The total amount payable would be £208,039.26 made up of the loan amount plus interest of £88,004.26 and application fee £0, product fee £0, valuation fee £0, chaps fee £35.

The overall cost for comparison is 4.8% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • 10% capital repayments are allowed each year during the variable rate period without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply up to and including 31 August 2021.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • Free standard valuation up to £999.
  • Fees assisted legal services for standard re-mortgages.
    • Extra help and guidance

      If you want help and support with your application call a Mortgage Assistant

      03450 50 50 62(press option 2)

    • Talk to an expert now

      When you're ready to apply for a mortgage, call to request to speak to a Mortgage Consultant

      03458 48 00 26 (press option 1)

    ** If you apply for a mortgage online you will not receive advice from Leeds Building Society. You will need to make your own choice about which mortgage is suitable for you and we will not assess the suitability of that mortgage to your needs and circumstances. You will not benefit from the protections offered by an advised service. This is called an execution only transaction. If you would like to receive guidance from us please call our Direct Mortgage Unit on 03444 175 785. We’re open 9am to 6pm Monday to Friday and 9am to 2pm Saturday.