Saturday, April 21, 2012

An extra £4 a week? The world will come to an end!

Millions of homeowners face higher mortgage payments as lenders hike rates

"Higher mortgage payments are coming for more than a million home owners when lenders impose rate hikes from the start of next month. The worst increases will be felt by Halifax customers, who could typically find themselves paying nearly £200 extra a year. The Co-operative Bank, Clydesdale Bank and Yorkshire Bank are also among those raising rates from May 1, blaming the weak economy and the increased cost of funding a mortgage."

Posted by mark wadsworth @ 12:31 PM (1346 views)
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One thought on “An extra £4 a week? The world will come to an end!

  • It could be worse. Some families were cold called by their building societies and invited to fix their payments at 5% a couple of years back. These fixes (at around £1200 a throw) are unlikely to show any benefit unless rates suddenly jump up – most unlikeley with the govenment & BoE doing their best to keep rates as low as possible.

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