When did tracker mortgages become discounted period then var

When did tracker mortgages become discounted period then var

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CoolHands

Original Poster:

18,639 posts

195 months

Friday 6th May 2016
quotequote all
Had a quick look on moneysupermarket and even if you only select tracker as mortgage all come back with a tracker rate - for 24 months then reverts to their standard variable rate!

Eg tracker rate of 1.69 then reverts to 4.74% and other such ridiculous figures!

Err I thought trackers were, you know, trackers. They're all fecking shysters aren't they. I know you can still get term trackers but this is a new one on me.

CoolHands

Original Poster:

18,639 posts

195 months

Saturday 7th May 2016
quotequote all
Ok I hadn't seen them before. To me they should be described as SVR with a discounted period (which happens to be a tracker). The tracking element is the most minor part of the mortgage type so it seems odd to have it categorised as such.

When you search trackers nearly all the mortgages that come back were of this type which wasn't, in my mind, what I was expecting for a tracker!