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Variable Rates
A variable rate mortgage is one
where the interest rate charged by the lender may move to correspond
with changes in bank base rates. If the change is small, it may not be
adjusted at all but if the change is more significant then the
mortgage rate is far more likely to move.
Some lenders will reflect any rate
changes once a year, whilst others will impose the adjustment soon
after the rate has changed.
An increasing number of Lenders now link their
own interest rates to international money market rates,
for instance LIBOR, a guideline rate of interest used for
inter-bank transactions.
Our advisers are on hand to help, please
use our enquiry forms.
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