Friday, Jan 22, 2010
Of course they are.. because fixed rates are massive markups over base rate
BBC News: Variable rates proving popular
Variable rate mortgages are continuing to prove popular as some of the UK's biggest lenders cut the cost of deals.
Mortgage broker John Charcol said that 81% of the home loans it arranged in December were variable rate deals.
Meanwhile, the Woolwich and the Halifax have reduced the cost of some of their tracker deals in recent days.
The Bank rate has remained at a record low of 0.5% since March 2009 and economists do not expect the central bank to raise rates in the near term.
This has resulted in many homeowners paying relatively little on their monthly mortgage bill, which experts have said has fended off the threat of home repossession for some.
Posted by exiges @ 03:54 PM (338 views) Add Comment
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