After the last blog about breaking up your mortgages into revolving and fixed, it is timely to look at all the different types of revolving mortgage and what it means to you. There are three main types of revolving mortgages variable revolving offsetting I will explore each of these today so you have an understanding when making a choice. A floating rate mortgage   This is a mortgage that goes onto the floating rate at the end of a fixed term.   There is little advantage in letting this happen.  Unless you are waiting for the fixed rate to drop before you fix it, that way there is no break fee.  However, this is truly a gamble, it could always go either way. You will be paying higher (as a general rule) than the current fixed rate on this type of mortgage.   Many people over the years have allowed themselves to fall back into a variable rate as they have been too shy to approach the bank to refix.  It is important to understand the differences in these types of mortgage.   The other pr