variable rate

More homeowners are opting for longer-term variable rate mortgages because of uncertainty over the direction of interest rates in the future, according to Hamptons Mortgages.

Consumers are increasingly turning to variable rate mortgages as they believe interest rates have now peaked, according to Spicerhaart Financial Services.

Mortgage Broker John Charcol claim variable rate mortgages are still a better deal for consumers, despite expecting another rate rise before the end of the year.

Supermarket Tesco has announced its entry into the UK mortgage market with a discounted variable rate product to be distributed online and by telephone as of tomorrow.