Split mortgages, also known as “hybrid mortgages” or “50/50 mortgages”, combine fixed and variable rate components within a fixed time period (usually 5 years). The benefit of a split mortgage allows you to have regular payments with the flexibility of a variable rate, which helps save you money in the end! The risks involved include potential rate spikes, increased amortization schedules, and penalties if you need to cash out of the mortgage. All of these potential risks could end up costing you big time if you don’t do your research. To find out if a split mortgage is a favorable option for you, visit your mortgage professional who can help assess your current risk portfolio and make sensible recommendations.