Educating yourself on the different VRMs out there can ensure that you pick the best product with the best features. However, with over 17 lenders offering VRMs how can you differentiate what is the best VRM? Your Mortgage Centre Advantage mortgage consultant can help you decide by reviewing all the many different features of each product with you.

There are 9 main features that you should be aware of before selecting which VRM is right for you:

The Term: It is important to know how long the VRMs term is. You definitely want to find out if it is an open or closed term as well.

Initial Discount: Some lenders and brokers will offer an initial discount, or "teaser rate" to get you to call them. You need to know how much of an initial discount you will be given and for how long (example: 1.5% less than prime for the first 3 months).

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