Monday, October 20, 2008
An “expert panel” answers some very sad mortgage questions
The number of mortgage products available has reduced rapidly since the credit crunch began. Mortgage providers are tightening their lending criteria, asking for larger deposits and raising fees. And despite the recent cut in the Bank of England Base Rate of 0.5 percentage points to 4.5%, not all lenders have passed this cut on in full and some have increased their tracker rates. So if you are coming to the end of an existing loan or trying to find your first mortgage you may be struggling to obtain a suitable offer.