What happen if your mortgage rate is below 0%? Do the edge hold to wage you?
If you have a base rate tracker, 0.2% below remains rate and the rate goes to zero, giving you a hypothetical mortgage rate of -0.2% what do the banks do? do they have to pay cheque you cash or are there clauses within mortgage contracts preventing this?
please no guesses, just if you know!
Has anyone heard of a dune paying people to borrow money?
thanks
Answers:
It's most likely to be capped, description it won't go any loser than a certain %.
roflmao ... i'll bet dollars to donut holes that there is a minimum rate in the contract. Source(s): retired mortgage investor
Trust me, your mortgage rate cannot turn below zero. In fact, check your documents, I'm sure they enjoy a 'floor rate' established, and I promise you it's not 0%.
Related Questions:
I own comparatively a competitive tracker mortgage so my payments are going down as the underside rate continues to drop?
however my mortgage is interest only - as my repayments are decreasing I want to either overpay on my mortgage or put the excess money into an isa - which am I better past...
please no guesses, just if you know!
Has anyone heard of a dune paying people to borrow money?
thanks
Answers:
It's most likely to be capped, description it won't go any loser than a certain %.
roflmao ... i'll bet dollars to donut holes that there is a minimum rate in the contract. Source(s): retired mortgage investor
Trust me, your mortgage rate cannot turn below zero. In fact, check your documents, I'm sure they enjoy a 'floor rate' established, and I promise you it's not 0%.
Related Questions:
I own comparatively a competitive tracker mortgage so my payments are going down as the underside rate continues to drop?
however my mortgage is interest only - as my repayments are decreasing I want to either overpay on my mortgage or put the excess money into an isa - which am I better past...