Rate Period Explained
The rate period is a term that is used in the buy to let area of the mortgage market as well as residential, meaning very similar things.
With regard to buy to let, this refers to the period during which the fixed or tracker rate on that buy to let mortgage applies.
The product will revert to whatever your financial providers standard rate is after that period of time.
In the residential market, it's the time period where the fixed, tracker or discounted rate applies. After that period the standard rate is reverted to.
Property Articles
We hope you find this mortgage glossary / explanation of mortgage terms useful. You might also be interested in our articles on a range of property related issues, a selection of which are listed below:- Property Gazuming Explained
- Home Information Pack Contents
- West Country Property
- Questions to ask when viewing a house
- Additional Borrowing on a Mortgage
- What to do at auction
- Equity Release FAQ
- Repayment Mortgages
- Spain and Utility Services
- Property Development Mortgages
- Mortgages and Regulation
- Considering Location When Buying
- Property Purchasing in Spain
- Home Reversion Plans
- Buy To Let
