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What would make you think the landlord's interest rates would go up? Its unlikely that any mortgage they have will have a floating interest rate. Borrowing more
by a2tech 4y ago
What would make you think the landlord's interest rates would go up? Its unlikely that any mortgage they have will have a floating interest rate. Borrowing more money will likely be at a higher interest rate, but deals that are closed aren't going to change.
- sph 4y agoWhat about variable rate mortgages?
- AYBABTME 4y agoI assume you're used to fixed rate mortgages. A whole bunch of countries don't have those. Actually I only know about the US having real fixed rate mortgages. Other places either have mostly variable rates or some sort of fixed period and a mechanism to bring up the rate in some conditions.
- a2tech 4y agoThat sucks for folks then. I'd definitely push for that to change. In the US you may not always get the best interest rate but it'll usually be the same for the entire length of the loan.
- throwaway85950 4y agoMy own payment going way up. There are no full-term fixed rate mortgages where I live - I can get it fixed for 3-7 years (and 7 gets me much worse interest rate).
- a2tech 4y agoThat sucks. In the US we typically get fixed rate loans for the length of the loan which could be as long as 30 years.