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- Fixed Rate Loans - |
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Many loans, especially those with long loan terms, have variable rates that move up and down, usually in line with a base rate, which quite often is the Bank of England Base Rate. Fixed rate loans have a set interest rate that remains as it is throughout the loan term. These kinds of loan are popular when the base rate is low, as that low interest rate will remain and become more valuable. However, if the base rate is high when the loan is taken out, a fixed rate loan would disadvantage the borrower as he would not benefit from the price reduction brought about by any downward change.
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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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| Think carefully before securing other debts against your home. Your home may be reposessed if you do not keep up repayments on your mortgage or any other debt secured on it. Loans secured on your home. |
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