From PropertyTalk.com Community Wiki
[edit]
Revolving Credit Mortgage
A revolving credit mortgage is like a big overdraft, secured against a property, in that the owner can draw on it and pay it back as required. To use a revolving credit facility successfully, all income should go into the account and only essential withdrawals be made. Interest is calculated daily on the account balance, so the longer money is left in the account, the less interest is paid. These types of accounts often require a lot of self control.
--Perry 00:22, 9 December 2007 (NZDT)
