Thursday, Jan 11, 2007
Is that the horizon coming?
Guardian: Norwich Union in the danger zone
A few shocks on the way for property owners, in addition to when they suddenly drop off a low fixed rate.
Posted by inbreda @ 04:41 PM (160 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. sirgoogle said...
Even though I think NU and the rest are thieves and villians (they lie about the returns sooo convincingly when the times are good and then change their predictions when times are bad), they at least do provide mechanisms to pay off the capital of a loan.
What about the recent trend for 30% of mortgages that are now interest only !!! In a HPC these guys are toast !! I have absolutely no sympathy for these idiots.
2. inbreda said...
Interest rates were 3.5% just three and a half years ago. They are now 50% higher than that. So anyone on an interest only tracker mortgage has to find 50% MORE to pay their monthly bill.
I'm sure the only reason we're not seeing the effects of this is because people were on a fixed rate. Maybe 3, 4 or 5 year fixes.
But the pain is coming.