Variable Rate Mortgage

Variable rates can rise or fall at the lenders discretion.

Variable rates offered by a lender are heavily dependant on the lenders cost of funds.  Lenders are not contractually obliged to pass on any movements in the European Central Bank (ECB) interest rate.

The repayments on a variable rate mortgage will fluctuate in line with general interest rate movements.

“The payment rates on this housing loan may be adjusted by the lender from time to time”