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Moneyextra.com Dictionary

Variable Rate Mortgages

Variable rate mortgages. 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.

Other options include mortgages which are fixed rate, capped or discounted.

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2009-02-17 00:00:00 © Moneyextra.com