ESTATE agents Your Move is offering a building society mortgage that guarantees to charge less than the Bank of England base rate. The Bank of England base rate is now 4.5 per cent but this mortgage has a guaranteed rate of a full one per cent less than the Bank of England rate until the end of June.

So called Base Rate Tracker mortgages are popular these days as borrowers get full advantage of any rate changes the Bank of England may make.

At the last rate change, one major lender took only 0.1 per cent off the mortgage rate even though the Bank of England dropped rates by 0.25 per cent. But with this type of mortgage, if the base rate drops by 0.25 per cent, the mortgage rate follows.

The reverse is also true but many mortgage holders prefer their mortgage to follow the base rate rather than giving their lender the ability to fix a rate that suits them.

This mortgage is particularly attractive as not only does it start off a full one per cent below the Bank of England base rate but the rate is guaranteed to be only 0.8 per cent above base rate through until the end of 2009.

For further details call 0845 845 6200.