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Drop lock

   Also found in: Dictionary/thesaurus 0.02 sec.
Drop lock
The fixing of the interest rate on a floating-rate note or preferred stock if it falls to a specified level.


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Drop lock Tracked rate remortgage - this tracker mortgage or remortgage offers you the option to make a change to a fixed rate remortgage during your initial time period without any penalty for early repay.
Drop locks allow a borrower to drop on to a fixed rate at a later date, penalty-free.
This latest version of the market leading Defiance knee brace offers a durable lightweight and easy-to-use, patent-pending drop lock hinge design, which provides a new method for controlling knee motion.
 
 
 
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