Business, Legal & Accounting Glossary
Most mortgages are taken out at variable rates of interest. That means your lender sets an interest rate and from time to time this will be moved up and down in relation to general movements in interest rates in the wider economy.
Variable-rate mortgages are the ‘plain vanilla’ variety in the home lending market.
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This glossary post was last updated: 15th February, 2020 | 0 Views.