Fixed Rate Mortgages

Please log in to MyCbi RSS to recevie regular up dates of what mortgage changes are about

Avoid difficulties when coming to remortgage for better rates or new fixed ratess - all lenders are daily monitoring their offers and products are being withdrawn with little or short notice

Currently there are 789 different mortgages quoted on sourcing systems for a re-mortgage of 85% on a property valuae of £175,000 where this time last year there may well have been three times as many, if not more

The new mortgage of £148,750 on an interst only basis would cost anywhere between £581.36 per month and £1,188.76 per month - ( base rates being 5.49% or 8.24% ) 4.69% pay rate for a 3 year stepped discount ranging to £1,188.76 per month on a 2 year fix at 9.29% pay rate

So, good clean credit profile with a low income multiple, say 2.75 times salary could be £670.40 per month better off than the home owner that has suffered less than brilliant credit profile, even as apparently harmless as missed or late payments, especially if they were in the last few months and CCJ's or Defaults will obviously seriuosly effect a replacement mortgage at 9.59% costing £1,188.76 per month