THE UNPOPULAR MORTGAGES THAT COULD SHAVE £250 A MONTH OFF YOUR REPAYMENTS – THE TELEGRAPH

Borrowers have flocked to unconventional “tracker” mortgages as they gamble on interest rate falls next year.

The popularity of tracker deals, which fluctuate inline with interest rate changes by the Bank of England, is at the highest level in more than a decade, according to mortgage brokers.

It comes as borrowers wager the recent interest rate boom will reverse next year and they will be able to lock in a fixed rate lower than today’s prices.

Searches for tracker mortgages have been 25pc higher since the beginning of October than the same period last year, according to mortgage data firm Twenty7Tec. It has recorded 502,100 searches in the past five weeks.

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