Don't fear the end of the quick fix
Article Abstract:
Many mortgage borrowers in the UK have made use of the fixed and discounted home loan rates that have been widely available since 1993. Many of these special deals are now coming to an end, and some observers have predicted that a considerable number of mortgage borrowers could begin to experience severe financial difficulties. However, the Council of Mortgage Lenders has undertaken research which indicates that fears of mortgage borrowers being in financial difficulties could be exaggerated. Earnings have risen since these mortgages were taken out, and in most cases the jump in repayments will not be very large.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
When it's best to move lenders
Article Abstract:
Mortgage borrowers were able to obtain good fixed-rate deals in 1994 and 1995, and many of these are ending in 1997. Lenders may not offer these mortgage holders such good rates, and there may be penalties attached to changing lenders. Such penalties have become increasingly common, and increase the cost of changing lenders, but this may still be worthwhile, even taking the penalty into account. Some lenders may be able to offer good rates after a fixed term has ended, and this ability may depend on how the lender itself raises funds.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Talking telephone numbers - a better way to get your mortgage sorted?
Article Abstract:
It is becoming increasingly common in the UK to make arrangements over the telephone for the entire home-buying process. More than 20 mortgage lenders now offer a telephone mortgage service, and consumers are finding that this is a very convenient way to arrange a mortgage. Furthermore, arranging a mortgage by telephone can be much less expensive than using a local building society. This is because telephone-based lenders do not have to bear the expense of a branch network.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Beware the prophets of the economic miracle. Predictability gives way to year of living dangerously. Britain is feeling good again ...
- Abstracts: Imagine the sound of one hand clapping. When the laughing had to start. 'I've started, so I'll finish': the true confessions of a serial recording star
- Abstracts: Rich countries get help. It's the way of the world. Why Asia should swallow the IMF's prescribed medicine
- Abstracts: The wild romance of science. Taking a quick look at the dead. Sacrificial images
- Abstracts: How TV-dinners show the decline of all that right-thinkers value. Don't just look to visible abuse, what we take for granted counts more