Track this mortgage - 2004-01-09
I have a tracker mortgage with Nationwide for £73,000. When the interest rate went down by 0.25% a few months ago my mortgage decreased by about £2 A month to £801. Now the rate has risen by 0.25% and my mortgage has increased by £9 to £810. How can this be? CE, Leek, Staffs.

David Hollingworth at mortgage broker London & Country says: It is hard to know what's going on without seeing Nationwide's explanation. The answer probably lies in the structure of the mortgage.
Read the full story at This is Money

Mortgage program accessable to low income families - 2004-01-09
Rural Development, an agency of the U.S. Department of Agriculture, is offering a subsidized government program created to help low income, credit worthy families and individuals in purchasing existing or building new homes in rural areas.

The unique feature about Rural Development mortgages is that the payments can be subsidized, meaning that part of the monthly payment is paid by the government, based on the applicant's circumstances.
Read the full story at Washington Observer Reporter