2 part mortgage with bank giving 2 different rates for same tracker mortgage

Psmith77

One part of my mortgage came to an end and was changed onto a 2 year tracker deal which is currently showing at 5.88%. The second part is on a fixed rate which is due to end on 31.01.25 and my bank is showing a 2 year tracker rate of 5.84%.  Surely this is the same mortgage and therefore the other part should also be 5.84% too ?

Typhoon2000

You have 1 mortgage with two products. When your fixed rates ends you go on to a variable rate, unless you switch to a different product. So you should not be  going on to a 2 year tracker unless you have requested it. The tracker rate should be lower than the variable rate though. The tracker available now ( 1.09% above base rate) may be different to the tracker available when you changed the first product to a 2 year tracker.

ACG

The mortgages were taken out at different times. The terms of each can vary.

kingstreet

Tracker rate differentials don't stay the same. If BOE base rate + 1.25% is available today, next week, the new product may be BOE base rate + 1.45%, hence the "pay rate" would be different.