Why are Variable Rate Mortgages Appealing
In most cases, these kinds of mortgages are popular with people who like to take risks. But at the same time, if they get these mortgages, they need to be sure that they can make their payments in case the rates increase. Since these mortgages have lower rates than fixed ones, they are often appealing to people who get larger mortgages where marginal rate changes can add a lot to the total amount. Lots of people in the UK got…