That depends on the wording of your mortgage agreement. When the base rate hit 0.5%, some people had tracker mortgages that tracked below the base rate, giving them a negative interest rate. If that rate was not floored or collared, the banks would have to pay the borrower for their debt. Some banks tried to wiggle out of this, and were quite rightly told to get fucked.
That depends on the wording of your mortgage agreement.
When the base rate hit 0.5%, some people had tracker mortgages that tracked below the base rate, giving them a negative interest rate.
If that rate was not floored or collared, the banks would have to pay the borrower for their debt.
Some banks tried to wiggle out of this, and were quite rightly told to get fucked.
Which bank would offer such deals...?!
Ahhhh the Co-Op
Thanks Rev. Flowers!
@_Zed_ started
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Which bank would offer such deals...?!
Ahhhh the Co-Op
Thanks Rev. Flowers!