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Variable rate UK loans and credit for home owners in the UK

The majority of secured loans we offer are variable interest rate loans. In broad terms, this means that your monthly loan repayments can change both up or down in line with money market interest rates. A loan where the interest rate is variable tends to be cheaper at commencement than a loan where the interest rate is fixed for the whole period of the loan. This is because the cost of the risk that interest rates might rise has to be added into the fixed rate loan.

Our variable rate loans tend to fall into two main categories:

a) standard variable rate loans - with these loans the interest rate and thus the monthly payment tend to change only where there are major shifts in the money market rates. They won't be changed for minor changes in rates

b) base rate tracker loans - with these loans, the interest rate and thus the monthly payment tend to change with every change in money market rates because they are directly tied to either the base rates of one or more of the high street clearing banks or the London Interbank Offered Rate (LIBOR)

The choice of interest rate rests largely with your risk outlook and this is inevitably influenced by what the likelihood is that interest rates might rise or fall in the future. Variable rates tend to be more popular where the likelihood is that money market interest rates are going to fall and less popular when the likelihood is that they will rise.

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Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. A written quotation is available on request.

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