Thursday, July 3, 2008
Bottom feeding b’stards
Mortgages: Borrowers offered rate rise protection
Homeowners on variable rate mortgages are being offered insurance to protect them against any future rises in interest rates. Sounds good, until you read in to it....!
Posted by rental john @ 03:39 PM (559 views)
3 thoughts on “Bottom feeding b’stards”
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Sold My Soul To The Never Never Never says:
This product beggars belief! Why not just overpay on your mortgage – at least you’ll be eroding the debt. Definitely one for the financially illiterate.
jonb says:
I don’t think the base rate will rise by more than 1% over the next two years. What mortgage rates do in that period is a different matter.
paul says:
But to qualify, both the base rate and the bank mortgage rates have to go up – a fool and their money …