Hello,
I was trying to learn how to read some mortgage tables and I've seen some of them where the mortgage period is detailed as TERM (so I was guessing that was referring to the whole length of the mortgage?) but then there's another column with a different % for reversion rate.
Example of an offset table, do you know what's the meaning of TERM in this context? e.g. First Direct, 2.99% initial rate, period TERM but reversion rate 3.69%?
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I was trying to learn how to read some mortgage tables and I've seen some of them where the mortgage period is detailed as TERM (so I was guessing that was referring to the whole length of the mortgage?) but then there's another column with a different % for reversion rate.
Example of an offset table, do you know what's the meaning of TERM in this context? e.g. First Direct, 2.99% initial rate, period TERM but reversion rate 3.69%?
