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2.99% Fixed rate - If you earn £75k...
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I disagree with you actually. If all other factors are the same, Joe Bloggs has probably got a much higher disposable income than you as it is unlikely that all his other costs are 5 x yours. He may spend a bit more on food and bills but unlikely to be 5 x more.
Hmmm - I understand your thinking however, Joe will also probably have more expensive holidays, higher 'social' costs throughout a year, more spending on home improvements, nicer car, etc, etc.
Surely it would make more sense for the banks to offer the lower rates to the 'lower' earners so they CAN afford the interest repayments as opposed to Joe who (in your example) can afford to pay the extra %, with all that 'extra' disposable income.
If a 'lower' earner can prove they are a low risk, why shouldn't they benefit from a low rate?Official DFW Member 716 - Proud to be dealing with my debts0
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