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Originally Posted by Neil
Not at all, all lenders are offering fixed rate, just at a premium. If I want a fixed rate mortgage, it will cost me approx £80.00 more per month than the equivalent discounted mortgage, which basically means an extra £960.00 per year, & thats a hell of a lot of interest rises in one year (that's why I don't think fixed rate mortgages are of any value)
I hope that makes sense.....  |
I meant that most lenders will not enter into a fixed rate mortgage for the full term of the loan - i.e. 25 years - like they do in the US and a lot of Europe.