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26-09-2020 |
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When the repaired rate period ends, you'll typically be immediately moved onto your lender's basic variable rate, which will typically be higher than any special deal you have actually been on (how long are mortgages). At this point you'll see your interest payments increase. However, you will be complimentary to remortgage to a brand-new mortgage offer, which might assist keep your payments down.
If interest rates fall then this drop might be passed on to you, and you will see your regular monthly payments go down as a result. If mortgage rates increase however, then obtaining costs end up being steeper for lenders, and these greater expenses are normally passed onto property owners. In this case your regular monthly payments would go up. https://speakerdeck.com/machilhuij |
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