A fixed rate mortgage is a mortgage where the monthly interest rates are fixed at a pre-specified rate for a pre-specified period of the loan. It is common for fixed rate mortgages to have the rate fixed for 1, 2 or 3 years, after that period the rate payable will switch to refelct current interest [...]
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Bradford & Bingley (B&B) Nationalised
Bradford & Bingley, the UK’s latest troubled mortgage lender is being nationalised by the British Government in an effort to stabalise the UK economy. In a statement by Prime Minister, Gordon Brown, UK voters heard how the Government have vowed to “work night and day to make sure that Britain can come through fairly this [...]