Good news for some mortgage owners
Posted on March 24th 2009
A couple that purchased a £400,000 2-bedroom house in Richmond in 2007 could not believe their luck.
The use to pay £1500 a month on their 5.5 mortgage until the bank of England’s base rate fell below the 1 mark. The couple are currently paying 23p a month on the interest of their property.
The couple have lost money on the value of the property, however they have saved their mortgage payments to help increase the equity in their property. The couple are also awaiting the birth of their first child, which couldn’t have come at a better time.
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