Monday, Mar 08, 2010
IR rise soon - a done deal?
Guardian: Fixed-rate mortgage? Homeowners should consider all alternatives
"Borrowers who stampede for fixed-rate deals as soon as the base rate starts rising could end up paying over the odds for their loans, mortgage brokers warn". "HSBC is offering the best five-year fixed rate, at 4.64% for up to 60% LTV with a £999 fee, while Britannia has a 10-year fixed rate of 5.29%, with a fee of £999 and 75% LTV".
Posted by alan @ 06:10 PM (763 views) Add Comment
2 Comments
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1. str 2007 said...
Buying a house with a fixed rate mortgage is tantamount to being sensible.
Not something that is rewarded in this day and age and specifically by this governement.
Why be sensible when you can be reckless and get a sensible person to pick up the tab.
Alas fixed rates haven't fallen below the levels they were back in 2005 despite the base rate being 20x lower.
So now it's a gamble to be sensible - strange times.
2. Blockage said...
Rip-off Britain continues, which is why this rat swam away. The pain of buying in the UK blows my fucking mind.
Home is now Austin, Texas. I was offered two mortgage deals last week. 4.75% 30 years fixed or a 3.65% 5/1 ARM -- that's five years fixed then adjusts once a year. Both 80% LTV, no fees, no early redemption.
Someone please tell me, why is buying a house in Britain so bad?