mortgage updates
Posted on July 22, 2009
Filed Under Home Mortgage
Mortgages are one of the most popular ways of availing finance by borrowers in the UK. The lending institutions are professionally managed without any market intervention by the government. Due to financial deregulation, there is increasing competition between banks, building societies and online mortgage lenders. The financial deregulation has also led to an increasing range of new mortgage products.
Among them, current account mortgages are becoming very popular because they offer homeowners the opportunity to combine their current account with their mortgage debt. They are particularly useful for people with large current accounts and who pay the higher rate of income tax. Savings in the current account are automatically used to reduce the mortgage capital. Therefore, this leads to lower interest payments.
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