‘Tracker mortgages are back’ – but is one the right choice for you?

At current rates, trackers look much cheaper than fixed deals (if interest rates do not rise) Photograph: iWebbtravel/Alamy

With some experts warning that we may have to brace ourselves for interest rate rises later this year, it might seem odd to suggest considering a tracker mortgage.

But, amid the economic chaos caused by the Iran war, for some people looking for a home loan or to remortgage, a tracker – where the rate you pay moves up or down in line with the Bank of England base rate – could be a good bet.