No quick mortgage fix in the mission to beat rate rises - 2004-02-08
Close to one million mortgage borrowers in Scotland have been given notice that the cost of their home loans is poised to rise inexorably over the coming year.
The decision by the Bank of England’s Monetary Policy Committee to raise base rates by 0.25%, up to 4%, will signal a wave of increases by mortgage lenders, as they push up the cost of their variable rates by the same amount. Borrowers on discounted rates are also set to face rises.
Read the full story at Sunday Herald