Home & Garden4 mins ago
Martin Lewis
18 Answers
Just watching his programme. He is talking about 1% mortgages.
Does anyone remember when we were paying 15% interest on mortgages.
Everyone seems to have forgotten about this horrendous overpayment.
Does anyone remember when we were paying 15% interest on mortgages.
Everyone seems to have forgotten about this horrendous overpayment.
Answers
Best Answer
No best answer has yet been selected by Caran. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Mortgage interest rates are always a bit above the Bank of England's Minimum Lending Rate, which reached 17% within the memory of many people on this website:
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The Bank has always said that the current MLR is unsustainable in the long term, with an intention to eventually take it back closer to 5%. So anyone taking on a mortgage now ought to ensure that they'll be able to keep up the repayments when mortgage interest rates climb back to somewhere around 6%.
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The Bank has always said that the current MLR is unsustainable in the long term, with an intention to eventually take it back closer to 5%. So anyone taking on a mortgage now ought to ensure that they'll be able to keep up the repayments when mortgage interest rates climb back to somewhere around 6%.