Saturday, Nov 25, 2006

Longer term fixed rate mortgages- the solution for FTB's?

Reuters UK: Long-term fixed rate mortgages: the pros and cons

Mortgage lenders are introducing competitive longer-term fixed rates -- which could spell a surge in demand among homeowners. Unlike those in the US and continental Europe, British borrowers tend to avoid longer-term home loans, preferring cheap short-term fixed or discounted products, or variable rates which move up and down according to the Bank of England base rate.

Posted by jellycaster @ 08:59 AM (439 views)
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2 Comments

1. Ilejustwait said...


This is not the way for first time buyers, it is the only way FTB can afford to get onto the property ladder, I wouldnt advise anyone to go down this road, the property you buy will never end up being yours, this is just a way for lenders to get business and to secure there lending and keep property prices high, and not for getting they will make alot more money from you if you increase the term of your mortgage, if you want property to come down just wait, cause you never know what can happen in the next year or so, no one can, but there is more truth that property is over priced than to be under priced so i think the next move is down,


Saturday, November 25, 2006 08:11PM Report Comment
 

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