The 25 year fixed rate mortgage returns to the UK market....

Conrad

shortchanged wrote: »

Why though? If the terms of the mortgage are clearly pointed out to them then they have nothing to complain about.

Nobody is forcing them into the deal and as long as they are well informed they can then make an informed choice.

Why do people sign contracts for such large transactions that they have no clue of the terms? It just seems ludicrous really, why don't more people accept responsibility for their actions.

The claim culture turns common sense on it's head. The FSA have this over riding core principle known as 'treating customers fairly' which is a very wide catch all. So an innocently sold long term mortgage might one day become yet another mis selling claim. The fact the clients read and supposedly understood the terms, counts for little in terms of a claim.

As Thrugelmire points out there is no long term tie, in which case I'd more readily sell this prodct, but something else to be born in mind is that if say variable rates remained well below the fixed rate for years, people do get upset - I see this all the time - 'someone must surely be to blame for not having predicted variable rates would remain low'. So in my job you often go for the least risky option - I need to sleep at night and my kids need an unstressed dad.

sabretoothtigger

One of the best points about MBS fix would be limited fees

Loughton_Monkey

shortchanged wrote: »

.....why don't more people accept responsibility for their actions.

Because of the insidious Nanny State.

oldvicar

Loughton_Monkey wrote: »

Because of the insidious Nanny State.

Well I would vote for Mary Poppins as Prime Minister !

Apparently, all it needs to help the austerity medicine go down is a simple spoonful of sugar.


Oooooohhh: Supercalifragilisticexpialidocious!
Even though the sound of it is something quite atrocious!
If you say it loud enough, you'll always sound precocious,

(altogether now) ...

Supercalifragilisticexpialidocious!
Um-diddle-diddle-um-diddleye
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