A variable rate is a rate of interest that can go up and down during the lifetime of a loan. The circumstances that cause the rate to change, for example announcements in changes to the Bank of England base rate of interest, are explained in the loan conditions.
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Think Carefully Before Securing Other Debts Against Your Home. Your Home May Be Repossessed if You Do Not Keep Up Repayments On A Mortgage Or Other Debt Secured On It.
