davidmartin_uk
10-26-2008, 01:40 PM
Don't know if the UK press has picked up on this yet but as all the fixed rate mortgage deals run out (which the government encouraged borrowers to do rather than go for a variable rate) they are not being replaced by any other deals.
I have 2 flats one with Mortgage Trust and the other with Standard Life that has just gone onto a regular non discounted rate of over 7.2% Even more worrying for the whole of the economy is that I have just had a letter about my own home, on a residential mortgage, where the fixed rate runs out Jan 1 and guess what, at the moment there are no deals to transfer to! This will result in an increase payment over over 200 quid a month!!
This will have massive ramifications to anyone with a mortgage whose discounted rate is running out unless the credit crunch can fix itself.
Dave
I have 2 flats one with Mortgage Trust and the other with Standard Life that has just gone onto a regular non discounted rate of over 7.2% Even more worrying for the whole of the economy is that I have just had a letter about my own home, on a residential mortgage, where the fixed rate runs out Jan 1 and guess what, at the moment there are no deals to transfer to! This will result in an increase payment over over 200 quid a month!!
This will have massive ramifications to anyone with a mortgage whose discounted rate is running out unless the credit crunch can fix itself.
Dave