Many mortgage-holders 'not benefitting from interest rate cuts'
www.moneynews.co.uk > Mortgages > Many mortgage-holders 'not benefitting from interest rate cuts'
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Money News |
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Many mortgage-holders 'not benefitting from interest rate cuts'
Thu 15th Jan 2009
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The price comparison site found that 52 per cent of the people they surveyed paid a fixed-rate of interest on their mortgage.
However the site said the cuts would probably benefit most of the 29 per cent on standard variable rate mortgages and should benefit all of those on tracker mortgages.
Fairinvestment.co.uk's chartered financial planner Sharon Bratley said: "Just this week Abbey and HSBC launched new reduced tracker rate mortgage products on the back of this month's rate cut."
She added: "Lloyds TSB has said that its tracker mortgage could go to zero if the base rate does the same, which is great news for Brits on this type of mortgage."
Earlier today NatWest and the Royal Bank of Scotland launched reduced fixed-rate mortgages.
Click here for more mortgage news
Related News : Mortgages |
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