Monday, March 29, 2010
Inflate Away Your Mortgage
Inflate Away Your Mortgage
Inflation will be a boon for those with a fixed interest rate. Not a short-term fixed rate. The common 2 or 3 year fixes aren’t going to be that helpful if serious inflation comes back. Once it’s out, it can take quite a while to get the inflationary toothpaste back into the tube. If you think inflation is on its way, then you need to fix your interest rate long. I’ve just seen a 10 year fix available at 5.2% from Britannia. All the usual terms apply – 25% deposit, £999 arrangement fee and early redemption penalties.
Posted by damien @ 02:30 PM (1200 views)
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fallingbuzzard says:
Quite funny really. I wonder what does 2-3% CPI inflation which feels like 5%+ for real people does?