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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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Comments
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
