Floater

Could be so many unseemly things: A dead body, a poo that won’t go down — but in the context of financial arrangements, most likely a form of equitable mortgage which hovers over the encumbered assets in question only to clamp down on them when the going gets tough. A floating charge, in other words. To be compared and enviously contrasted with a fixed charge.

See also

• Floating charge
• How to get a fluffy floater to flush