Floating interest rate Mortgage

May 31st, 2010 by admin

Floating mortgages

Floating mortgages are the most flexible of all mortgages.

A floating mortgage allows you to pay off more than the banks need with out any penalties  and it is because off this it can accelerate the pay off of your mortgage dramatically.

The down side to a floating mortgage is that you are exposed to any change in interest rates, this can cause a real problem if you are over exposed to the banks but is less of a problem if you are over paying your mortgage.

See my article on Fixed Mortgages to compare the different types of mortgages and find out which suit s you and your family the best,  a

Fixed interest rate mortgage or floating interest rate mortgage ?

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Posted in Floating interest rate mortgage, interest rates, Personal Loan Tips | 2 Comments »
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2 Responses to “Floating interest rate Mortgage”

  1. Choosing your mortgage type Fixed or floating | Mortgages & Loans NZ says:
    May 31, 2010 at 10:08 am

    [...] flexibility or on the other hand if you are struggling to pay your mortgage as it is and you have a floating mortgage when interest rates go up you may not be able to pay which means your could lose your [...]

  2. Fixed and Floating Combined Mortgage | Mortgages & Loans NZ says:
    June 4, 2010 at 8:31 am

    [...] that includes a portion of the mortgage at a Fixed Interest Rate and a portion of the mortgage at a Floating Interest Rate [...]

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