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September 02, 2007

Mortgage Advice

Well, yes.

Borrowers with poor credit histories who are coming to the end of cheap, fixed-rate 'sub-prime' mortgages should remortgage to a mainstream deal if they can to avoid paying onerous interest rates.

People who qualify for mainstream mortgages should get them if they can, rather than the more expensive sub-prime ones. Yes, thanks for that. Amazing the advice you get in the Sunday papers, isn't it?

September 2, 2007 in Finance | Permalink


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The point is that previously to about a month ago, the balance of go-to rates and prepayment fees at the subprime lenders was such that they were broadly indifferent whether a client stayed or went. But since about a month ago, a lot of lenders have wanted to reduce their books, so now it makes much more sense to wear the prepayment fee.

Posted by: dsquared | Sep 2, 2007 7:35:02 PM