Sunday, Jul 23, 2006

Mortgages: Fixed or Variable

Independent: It's follow that base rate as fixed home loans rise in price

A recent rise in fixed mortgage rates is making trackers - which follow the Bank of England base rate - more popular.

The cost of fixes has begun to creep up as economic warning signs, such as higher inflation, have persuaded the money markets - where lenders borrow from each other - that a base rate rise is on its way after 11 months at 4.5 per cent.

Posted by jason @ 01:39 PM (596 views)
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5 Comments

1. inbreda said...

""Consumers appear educated and willing to take this risk"

Educated? This man needs to prepare to be educated himself.

"One of the main reasons for taking out a tracker is that any reduction in the base rate will be passed on to you immediately and in full"

Because that's likely!!!!!

Sunday, July 23, 2006 05:05PM Report Comment
 

2. bidin'matime said...

Meaningless spin.

Sunday, July 23, 2006 08:21PM Report Comment
 

3. Tangara said...

Meaningless spin

So far the spin has worked pretty well !!! As they all know, the property value is just an opinion, that's why it's so important for all the housing business to keep it spinning as long as possible.

It's all about opinion making - normal people listen too much to their banker...

Tangara

Sunday, July 23, 2006 09:01PM Report Comment
 

4. wannabemigre said...

Perhaps if you read the "sleepwalking into crisis" link at the bottom of the article the answer as to the popularity of the variable rate mortgage becomes clearer:-)

Monday, July 24, 2006 12:20AM Report Comment
 

5. inbreda said...

Wannabemigre - good spot. It proves the lazy journalist theory. The journalists on both pieces have no VI, but clearly no interest in proper journalism either!!

Monday, July 24, 2006 10:26AM Report Comment
 

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