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Current Account Mortgage "Variable Rate"

skywalker_208 · 2005-03-06 02:17:50

Ive just been reading the following about First Actives Current Account mortgage... If this variable rate does change - anyone know how is that likely to affect the repayment amount on your mortgage? "If you opt for a Planned Repayment, your monthly repayment is based on the Original Loan Amount, (which includes any equity…

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06-03-2005 3:17am

#1

skywalker_208

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Ive just been reading the following about First Actives Current Account mortgage... If this variable rate does change - anyone know how is that likely to affect the repayment amount on your mortgage?

"If you opt for a Planned Repayment, your monthly repayment is based on the Original Loan Amount, (which includes any equity released), therefore your monthly repayment amount will remain constant (assuming that the variable interest rate remains unchanged)."

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#2 06-03-2005 11:12pm
yop

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I presume it affects the repayment amount as any other mortgage would where u have a variable rate interest

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