Saturday, April 7, 2012
Halifax trying to tell us – everything is just fine
Martin Ellis from the Halifax said, "In 2008, the average annual repayments bill was Â£4,521. Today it is Â£3,485 â€“ a drop of more than Â£1,000. However, this fall has been more than offset by the increase in other bills." So this assumes the mortgage is interest only, so of course it is cheaper as you may never pay back the loan.