April 13th, 2009
75% Mortgages That Require Payment Protection
With the mess that has been created by the credit crunch and the lack of confidence in the housing market a 5% or 10% deposit gets you nothing these days. I’d been out of the housing market for while and went to see my financial advisor thinking 10% would be more than enough – I was wrong. Even with interest rates at 0.5% the lowest mortgage rate I could get, and that needed me to take out compulsery Mortgage Redundancy Protection was 6.2%. I guess I need to get back to saving more money or start looking at lower cost properties, none of which I fancy doing right now.
