Amid the financial news today, finance experts have been offering some sound advice to homeowners or those looking at taking out a loan.
Taking out a fixed rate on your loan or mortgage should protect you from any further interest rate rises. Previously variable rate were the first choice due to our very low base interest rates, but the market has changed considerably over the past few months.
5 years ago only 18% of mortgages had a fixed rate. Today that figure has risen to 79% - people have realised that fixed rates are the sensible option in todays troublingly unstable times.
Read the news in full here
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For me too, whenever I apply for loan, I always got a fixed rate loan. Previously, I preferred floating rate loans, but since the interest was too unstable, I can’t even think about having a loan with a floating rate. Your blog and the link are really good. Thank you for such a nice blog.