variable rate mortgage - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “variable rate mortgage”

variable rate mortgage

noun [C]
 
 
( also adjustable rate mortgage) FINANCE, PROPERTY
a loan for buying a house on which the interest rate can change over time: One building society is currently offering a five-year variable rate mortgage, capped at 5.75%.
(Definition of variable rate mortgage from the Cambridge Business English Dictionary © Cambridge University Press)
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