Yesterday’s unprecedented announcement from the Prime Minister Gordon Brown that The Bank of England had cut the UK interest rate by 0.5% has been welcomed by everyone. The mortgage interest rate has fallen from 5% to 4.5% which is great news for everyone. Further news that the US and European central banks were following...
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This is not a stupid question to ask. I was with a client last week and I was arranging a five year fixed rate buy-to-let mortgage on a 75% loan-to-value mortgage with the Bank of Scotland. While my client and I were signing all the paperwork for their new buy-to-let mortgage, the Bank of Scotland...
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No, that’s not a misprint. Even though falling interest rates are good when you want to get a loan, they are bad for people with savings accounts. In this economy your best investment- the best place to put your money – is into paying off debts. Think of it as investing in your debt...
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