Large
increase on mortgage repayments
4/05/2007
Homeowners and investors with buy-to-let
mortgages are going towards high future mortgage
payments, simply due to fixed-rate mortgages meeting its dead
end.
Since 2006 the interest rate has stepped
up slowly but surly leaving fixed-rate mortgages
more popular. This isolates borrowers from base rate inflation.
Homeowners are reaching the end of
fixed-rate deals, dreading, they will face high repayments following
new deals as interest rates figures every year have increased.
From mform.co.uk,
Francis Ghiloni signals that higher payment is on its way.
"With further increases in the
Bank of England base rate being predicted, people coming to the
end of fixed-rate deals need to act now or see their mortgage
interest rates increase dramatically."
He added, "Customers whose deals
are running out should research the market now because there will
be fewer offers available when their deal expires."
General investigation taken on by the
London and Country stated that lenders are in a position where
they are going to rise the interest rates on fixed-rate products,
as each year this mortgage
deal gets popular.
