mason
Apprentice
Joined: 27 May 2007
Posts: 4
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 Posted: 06/14/08 - 08:19 Post subject: |
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| Hi there everybody! My name is Peter and I would like to ask you something about mortgages. I am looking for the right mortgage deal and, to tell you the truth, I am a little bit confused with all those options. So, I need some help and information. Can lenders raise interest rates while out payments still goes? Thank you. |
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derk
Apprentice
Joined: 18 Apr 2007
Posts: 3
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| Posted: 07/13/08 - 21:07 Post subject: |
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| Hello to you too Peter. I totally understand what you mean. There are so many types of mortgages, so many deals and offers that it is just so much complicated. When it comes to your questions, here’s the thing. Lender can indeed raise interest rates while out payments still goes in case of variable mortgage. It is mortgage type with variable interest rate. However, even it that case there are certain limits, since interest rates are capped. If you are not interested in this, you can always choose fixed mortgages. Just have in mind that they tend to be a little more expensive. Well, that would be all. I hope that you will find a good mortgage deal for you. Bye! |
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