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Rate Hike Benefits Lenders

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http://money.guardian.co.uk/property/mortg...2093319,00.html

Mortgage lenders are hitting homeowners with rate hikes greater than the recent 0.25% Bank of England increase. Most banks and building societies passed on the whole of May's base rate rise, but a handful have charged more, with some increasing by 0.35%

aww complain complain thats all they do. :lol:

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Clearly people haven't figured out how the business of moneylending works.

It's a pretty simple formula:

i) Reduce interest rates to get as many people into as much debt as possible

ii) Raise interest rates

iii) Raise interest rates

iv) Raise interest rates

v) Live a life of luxury

-Rinse and repeat!

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