|   FM Home  |   FM Forum  |   FM News  |   FM Blog  |  

Go Back   Finance & Money Forums > Finance > Mortgages
 

Mortgages Discussions about mortgages and mortgage lenders, and property as an investment.

Reply
 
Thread Tools
  #1 (permalink)  
Old 12-07-2007, 10:31 AM
Finance News's Avatar
Senior Member
 
Join Date: Sep 2007
Posts: 1,131
Post Further base rate cuts needed to reduce mortgage costs

Despite a swift reduction in interest rates by leading mortgage lenders, Halifax and Nationwide, the cut in the Bank of England’s base rate to 5.5% is unlikely benefit homeowners immediately.The London Interbank Offered Rate (Libor), the rate at which banks lend money to one another, remains at 6.65%, a nine-year high, and banks raising funds [...]

More: Further base rate cuts needed to reduce mortgage costs
Reply With Quote
  #2 (permalink)  
Old 12-07-2007, 10:56 AM
Junior Member
 
Join Date: Dec 2007
Posts: 17
Default Re: Further base rate cuts needed to reduce mortgage costs

I think it's really difficult for anyone with a fixed rate mortgage at the moment to get any benefits from this interest rate cuts. If i am due to get a mortgage out now, is it wise to get a variable mortgage or cut my losses and stay safe and get a fixed one at the current base rate?
Reply With Quote
  #3 (permalink)  
Old 12-07-2007, 05:33 PM
Senior Member
 
Join Date: Sep 2007
Posts: 188
Default Re: Further base rate cuts needed to reduce mortgage costs

I always recommend a fixed mortgage. If you can't afford the monthly payments you shouldn't get a mortgage in the first place.
Reply With Quote
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Borrowers confused over mortgage rate savings Finance News Mortgages 0 11-27-2007 07:53 PM
Mortgage providers will ignore base rate cuts Finance News Mortgages 0 11-20-2007 11:09 AM
Mortgage cost relief as economy demands base rate cuts Finance News Mortgages 0 11-15-2007 04:29 PM
High mortgage costs reduce home ownership benefits Finance News Mortgages 0 11-14-2007 02:57 PM
Mortgage market uncertain on base rate change Finance News Mortgages 0 11-07-2007 04:53 PM


All times are GMT +1. The time now is 10:44 PM.


Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.1.0

© 2005-2006 Finance Markets. All rights reserved  |  About  |  Disclaimer  |  Resources  |  XML Feed  |  Contact us