Flexibale Mortgages
Flexible Mortgages
The monthly payments fluctuates in line with the lender's mortgage rate. This can cause budgeting problems in times of increasing interest rates. Some lenders offer an annual review so that the amount you pay only changes once a year with the difference adjusting your outstanding mortgage.
Lenders may also offer a version where your monthly payment fluctuates in line with the Bank of England's Base Rate, often referred to as a 'Base Rate Tracker'