Has your mortgage payment gone down?
10th September 2009
... Comments


There are many people out there whose fixed rate has ended. BCC (before credit crunch), at the end of the fixed rate term, the trend was to remortgage onto another fixed rate for a number of years.

ACC (after credit crunch), now that many lender’s interest rates are lower than the fixed rates, many of my clients are, quite understandably, sticking with their lender on the standard variable rate (SVR).

Similarly, there are many people on tracker mortgages, that have seen a significant decrease in their mortgage payments.

The question I am curious to know is what are people doing with the extra money that has been created by the cheaper monthly mortgage payments?


  • 1.       Are people spending it on an improved lifestyle?
  • 2.       Are people spending it on just making ends meet because everything else has got more expensive?
  • 3.       Are people keeping their monthly payments the same and effectively overpaying their mortgage to reduce the outstanding capital?
  • 4.   Are people paying off their other more expensive debts such as credit cards & loans?
  • 5.       Are you one of the poor people tied into a fixed rate mortgage?
  • 6.    You are mortgage free so interest rates are of little consequence to your income



About the Author

Cheryl F

Member since: 17th September 2009

I provide holistic financial planning. The essence of my relationship with my clients is to help make it easier for them to manage their finances. This is achieved through personal, face-to-face advice...

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