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Bank Of England cut Mortgage Rate to 2% | House Price Spy BlogThis is a discussion on Bank Of England cut Mortgage Rate to 2% | House Price Spy Blog within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; In an even more surprising move than last month the Bank Of England have cut the bmortgage/b rate again to ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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12-05-2008, 10:23 AM
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Bank Of England cut Mortgage Rate to 2% | House Price Spy Blog
In an even more surprising move than last month the Bank Of England have cut the bmortgage/b rate again to 2% which is the lowest level since 1951. This follows.
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