Thursday, Jul 03, 2008
Bottom feeding b'stards
Guardian: Mortgages: Borrowers offered rate rise protection
Homeowners on variable rate mortgages are being offered insurance to protect them against any future rises in interest rates.
Sounds good, until you read in to it....!
Posted by rental john @ 03:39 PM (242 views) Add Comment
3 Comments
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1. Sold My Soul To The Never Never Never said...
This product beggars belief! Why not just overpay on your mortgage - at least you'll be eroding the debt. Definitely one for the financially illiterate.
2. jonb said...
I don't think the base rate will rise by more than 1% over the next two years. What mortgage rates do in that period is a different matter.
3. paul said...
But to qualify, both the base rate and the bank mortgage rates have to go up - a fool and their money ...