Mortgage Information > Payment Plans > Variable Rate

Your payments go up or down when the lender's mortgage rate changes. (Mortgage rates tend to move in line with the Bank of England base rate but there is sometimes a delay).

This type would be good if you can afford to pay more when interest rates go up and like the flexibility to be able to make overpayments without penalty (assuming there are no restrictions on making such payments and no early repayment charges apply).