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why banks are making money again - the call for cheaper mortgages
lending margins on mortgages must be at close to an all time high. Banks can now borrow money extremely cheaply (at close to 0%), but because mortgage lending now often requires 25% equity borrowers are not able to switch mortgages as easily and are being moved to higher margin standard variable rate products when their special rate period expires. Happy days for the few banks but unhappy days for customers.
© YOUhome® Published 06/08/2010