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Article: Beating the rate rise; IF INTEREST RATES RISE TOMORROW, HOW WILL YOUR FAMILY COPE? ;MONEY MAIL.
- Article from:
- Daily Mail (London)
- Article date:
- November 5, 2003
CopyrightCOPYRIGHT 2003 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JUSTIN HARPER
Beating the rate rise
MORTGAGES will soon get more expensive if - as expected - the Bank of England raises interest rates tomorrow. The full impact will be felt by the million-plus borrowers who are not on any special deal. Here, JUSTIN HARPER shows how to save thousands of pounds on your mortgage even if interest rates rise.
THE BASICS
MOST lenders offer special deals to new borrowers. But once that deal ends, you'll slip on to what is known as their standard variable rate (SVR).
This generally moves up and down as the Bank of England moves base rates - but not necessarily by the same amount.
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