DWP Help with Mortgage Interest

poppy10_2

Danday wrote: »

But most if not all bank loans are fixed interest loans

This is support with your mortgage. The better analogy would be with mortgage rates. They can go up or down over time.

BorisThomson

poppy10 wrote: »

This is support with your mortgage. The better analogy would be with mortgage rates. They can go up or down over time.

Do you know of any banks that don't offer fixed rate mortgages for 5 years? These offer certainty for customers, something I expect is very helpful for someone with a disability or of advanced years.

It's a shame the government didn't think of the impact such uncertainty can have on vulnerable people.

poppy10_2

BorisThomson wrote: »

Do you know of any banks that don't offer fixed rate mortgages for 5 years?

I don't know of any bank which is offering a five year fixed rate at 1.5%, which is what SMI is being offered at. 5 year fixed are much more expensive. More appropriate to compare the variable rate SMI to the variable rate mortgages available

[Deleted User]

I'm not sure that this thread is serving any real purpose now, and even then there is another thread about the changes to SMI, so having said that I am now going to close this thread.
Venison.