variable-rate mortgage


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Related to variable-rate mortgage: Adjustable rate mortgage

var·i·a·ble-rate mortgage

(vâr′ē-ə-bəl-rāt′, văr′-)
n. Abbr. VRM
References in periodicals archive ?
A study of borrowing trends shows that homeowners in the North have a 78% likelihood of holding a variable-rate mortgage, compared with 35% of those in the south.
But less than a quarter of lenders have passed on this the latest rate cut to their variable-rate mortgage customers, Money facts said this week.
Although 86 per cent of people taking out a home loan still opted for a fixed-rate deal during the month, the number opting for a variable-rate mortgage rose from nine per cent in June to 14 per cent, according to Spicerhaart Financial Services.
The second funding included a $22.6 million fixed-rate and a $30.4 million variable-rate mortgage secured by the additional 12 properties.
Then, if you like what you hear, it should take no more than a month to switch a variable-rate mortgage to a five-year fixed-rate or capped deal.
All lenders offer a standard lettings variable-rate mortgage, only a few base points above the standard rate for owner-occupiers.
If you're on a variable-rate mortgage, with a loan less than 90 per cent of your property's value, and are not subject to penalties for changing, it could pay you to remortgage.
For example, instead of either a fixed- or variable-rate mortgage loan, a mortgage banker may design a combination--a loan with an interest rate that is fixed for anywhere from 3 to 10 years, and is then adjusted annually.
FINANCIAL DICTIONARY: Tracker mortgage THIS is a type of variable-rate mortgage where the interest rate tracks the Bank of England base rate (which has been standing at a historic low of 0.5% for more than five years).

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