Stabilised payment mortgage UK Mortgage definition

UK Mortgage definition

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Stabilised payment mortgage

With a Stabilised payment mortgage the borrower is allowed to select an interest rate within a given range. If at the end of an agreed period the loan has been over paid, a capital adjustment will be made to reduce the debt. Conversely, if the loan has been under paid, the capital sum then owed is increased.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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