adverse credit remortgage

source http://ww w.prweb.com/releases/2009/01/prweb1816254.htm
The Bank of England made a further reduction in Bank Base Rate this week to 2%, its lowest level for 57 years. It is hoped that this further increase coupled with the recent reduction in VAT will stimulate consumer spending.

London, England (PRWEB) January 4, 2009 -- Borrowers who are on tracker deals should see the benefit from January where a £150,000 repayment mortgage over 20 years, tracking the base rate at +0.5% will cost just £794.85, £195.08 less than 2 months ago when the base rate was 4.5%.

Borrowers can see how the change in base rate will impact on their monthly payment by using L&C's rate change calculator (http://www.lcplc.co.uk/calculators/what-will-happen-if-rates-change).

Borrowers on a fixed rate mortgage at present may well be feeling badly done by as they have not benefited from recent cuts in base rate. Depending on the rate of interest they are currently paying and the remaining period left to run on their fixed rate they may also be able to save money by switching to a new deal, despite paying an early repayment charge. By using L&C's early repayment charge calculator (http://www.lcplc.co.uk/calculators/early-repayment-charges), they can quickly find out what rate of interest they would need to pay to achieve this.

For more information and no-fee advice, borrowers should call free on 0800 373300.

Notes to Editor:
London & Country (L&C) is the UK's leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.