Can anyone explain why buyers cannot get new mortgage at the base rate ? Why do we have to enter into a termed contract that is higher than the variable base rate with penalties if repaid early ?
My partner and I are taking out a new mortgage, but can only get one that is higher than the base rate and carries early repayment charges.
We have a 10% deposit.
Thanks,
Ruby
My partner and I are taking out a new mortgage, but can only get one that is higher than the base rate and carries early repayment charges.
We have a 10% deposit.
Thanks,
Ruby