Homeowners are being urged to act quickly if they are looking to take advantage of interest rate cuts and switch to a cheaper mortgage, as otherwise they could end up missing out on some very competitive deals that are either selling out or are being taken off the shelves by lenders after just a short period of time. Many homeowners may be looking at remortgaging in light of the two interest rate cuts that have been made since December 2007, but they are being warned not to dither and delay if they see a competitive deal. Read the rest of this entry »
Popularity: 37% [?]
According to a recent report a number of mortgage lenders in the UK decided to hike up their mortgage interest rates in January 2008, even though there was a reduction in the base rate in December 2007 and the base rate remained unchanged for January 2008. One of the latest to hike up the rate on its tracker mortgage – which is supposed to track movements in the base rate – is the Nationwide Building Society, which recently won a poll as most trusted bank of building society. Read the rest of this entry »
Popularity: 37% [?]
Since August of 2006, which marked the start of a series of five interest rate rises that were to take place in under one year, many homeowners on variable rate mortgages have been struggling to keep on top of their mortgage repayments. Repossession levels have rocketed and the strained financial situation facing most households has seen spending levels fall and the economy take a battering. Read the rest of this entry »
Popularity: 54% [?]
Industry officials from the British Chambers of Commerce have called for the Bank of England to cut interest rates again. The bank of England hiked up rates five times between August 2006 and July 2007, taking them up by a total of 1.25% to 5,75%. The rates then remained unchanged until December 2007, when they fell by 0.25% to 5.5%. Many were expecting a further fall in January given the marked slowdown in the economy, but the Bank of England also had to consider inflationary pressures and the base rate remained unchanged. Read the rest of this entry »
Popularity: 41% [?]