Bank injection good news

Friday, September 28, 2007

The Bank of Englands decision to inject £10 billion into the UK economy in the form of loans to Banks that use mortgages and other assets as collateral is good news for borrowers.

The support should enable conditions to stabilise to some extent and provide some normality for borrowers and lenders. The injection should enable the 3 month funding costs to reduce and get back to more normal levels.

Those who will benefit most are customers whose mortgages are linked to Libor (London Interbank Offered Rate) for whom large increases in payments were looming.

If you are coming to the end of your current fixed rate or are currently on your current lenders standard variable rate, get in touch with Solution Mortgages to see if we could lower your monthly payments by reviewing your current mortgage. You can contact us on 0845 123 1260 or online at www.solution-mortgages.co.uk