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YOUR HOME MAY BE
REPOSSESSED IF YOU DO
NOT KEEP UP REPAYMENTS
ON YOUR MORTGAGE
 

Variable Rate Mortgage

A variable rate mortgage is one where the interest rate adjusts according to changes in the base interest rate. The mortgage payments will remain the same with the interest changes being applied to the principle loan.
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Standard Variable Rate

This refers to the rate that will be applied to your mortgage. For example a standard variable rate of 2% means that the interest applied to your mortgage will never be more than 2% above the base rate.

Discounted Variable Rates


This is a mortgage option where you would initially have a lower payment, which is useful if you need breathing space at the start or your mortgage. The discounted period depends on the mortgage deal itself.

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