Fixed rate mortgage customers not worried by base rate, says What Mortgage
www.moneynews.co.uk > Mortgages > Fixed rate mortgage customers not worried by base rate, says What Mortgage
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Money News |
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Fixed rate mortgage customers not worried by base rate, says What Mortgage
Wed 16th Mar 2011
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Editor of the publication Ben Wilkie explained that people on fixed deals will not be immediately affected by such changes in fiscal policy, so it is not their biggest worry.
He said: "A lot of people have got not just a mortgage; they have got issues with credit cards or loans or other financial commitments. Those other things take priority."
Mr Wilkie suggested that many people see the base rate as something that they cannot do anything about anyway, so there is little point in worrying about it.
In his opinion, this should not stop people from reviewing their mortgage deal regularly, since savings can often be made.
According to the Council of Mortgage Lenders, one on four borrowers does not realise that the base rate is currently at an all-time low.
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