Thrifty Loans

Situation could ease for homeowners on cheap fixed rate mortgages

Since the series of interest rate rises between August 2006 and July 2007, when five 0.25% rises took the base rate from 4.5% to 5.75%, there has been a great deal of concern about how homeowners on cheap fixed rates will cope. This is because many people that took out a fixed rate mortgage two or [...]

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Chancellor still relying on longer term fixed rate mortgages to stabilise market

Following his recent first budget the Chancellor of the Exchequer, Alistair Darling, is continuing to try and persuade lenders to increase the availability of affordable fixed rate mortgages over the long term, stating that these could help to stabilise the housing market as well as increase security and stability for homeowners. The chancellor wants to encourage [...]

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Balance Transfer Caps Are Disappearing

The number of bargain balance transfers available for credit cards is shrinking. The number of capped fees has fallen by around two-thirds in the last 12 months. A year ago card customers could choose from 18 different cards, but now consumers have a choice of only seven from only five providers. Comparison website MoneyExpert.com warns that so-called [...]

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Nationwide Increases Deposits For Its Best Rates

People buying homes in London have been told by Nationwide – Britain’s building society – that they will need to pay a deposit of at least £75,000 to avoid higher mortgage costs. The building society has moved to increase deposits to get its best rates from 10% to 25%. As London house prices now average over [...]

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