Define "years ago" please? as I took one out in 2008. It certainly wasn't "not a good option" then, it was an alternative to buying a fixed rate mortgage.As it happens, mine has turned out to be the best financial product I ever owned, by a country mile.And I was employed not self-employed, so no SCM for me.When the rates dropped almost month by month over 2009/10, the cut was passed onto me the 1st of the following month, without fail. It is in the terms of the mortgage, which unlike you, I seem to have to hand.When the rates went up a tiny little bit in recent years, the increase was applied in just the same way, on the 1st of the following month.
Don't you just love the responses from those who haven't a clue on the subject, 'go for a walk' or 'don't be so ridiculous'. I am just glad I am not paying for any of this 'expert' advice
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