Saturday, May 27, 2006

Cheap fixed rate mortgages disappear

Times Online: Switch hitch as the cheap fix disappears

Fixed rate mortgages, as used by 70% of mortgage borrowers, are becoming more expensive, even though the Bank of England has not changed rates for 9 months. You would be lucky to get less than 4.8% now, up from 4.2% in July of last year.

Posted by paulm @ 08:31 PM (669 views)
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1. Ticktock said...

So the banks want you on a variable, rather than a fixed, rate, even though they anticipate that rates will likely fall, rather than rise?

Strange business practice for Banks this.

Is it not more likely,that the the Times here is acting as an agent of bank dis-information, in an attempt to mis-lead less than savey consumers?

Many experts think that rates will stay on hold, or that the next move will be downwards, so a gamble on one of the lowest-priced trackers or variable rates may be worthwhile.

Really Rupert, Really? Which 'experts' are they?

Sunday, May 28, 2006 12:23PM Report Comment
 

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