-
The low Bank of England base rates and its knock-on effect for mortgage lenders has thrown up some wonderful anomalies, with one couple from Hampton, south-west London finding recession living comparatively easy.
Ben and Nicola Cameron took out a interest-only tracker deal with the Cheltenham & Gloucester building society in December 2007 with their payments tied to 1.01% below the base rate, which was then at 5.5%. Only now, with the base rate at 0.5%, they've found a monthly mortgage bill of about £1,500 is now zero.
-
Newer Entries »
June 1st, 2009Uncategorized