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100 percent mortgage rates
If you take the time to actually checkout current mortgage rates before you start looking for a 100% mortgage or remortgage, then you will be able to ascertain what sort of lending scale you can have. There is no point looking at property that is valued at two hundred and fifty thousand pounds if your income level will only suffice a 100 percent mortgage for a property valued at one hundred and twenty five thousand pounds.
There has already been one interest rate rise this year (correct
at time of publishing (May 2007), and financial analysts are predicting another to follow very shortly, so keeping abreast of this rise, or as it may be in the future, decreases, can help you ascertain the level of borrowing you can comfortably afford without taking food off your table.
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The interest rates below are correct as 25th May 2007, but may be subject to change in the future. They are the actual base rates directly from the bank of England and not necessarily reflect the interest rates you could be charge
for your quotes on 100% mortgages.
Current interest rates
The bank of England determines what rates of interest are to be charged in the United Kingdom.
This is not the amount of interest you may pay on your mortgage as lenders and banks will add to this so they also make a profit. At the time of press and up to the 7th June 2007, this is believed to be correct.
| 10 May
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Bank of England Raises Bank Rate by 0.25 Percentage Points to 5.5%
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| 5 Apr
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Bank of England Maintains Bank Rate at 5.25%
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| 8 Mar
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Bank of England Maintains Bank Rate at 5.25%
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| 8 Feb
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Bank of England Maintains Bank Rate at 5.25%
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| 11 Jan
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Bank of England Raises Bank Rate by 0.25 Percentage Points to 5.25%
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Industry analysts expect there to be another rise on the 7th of June, feel free to re-visit us for further information.
To apply for a 100% mortgage and check out currently lending rates that you could get, feel free to fill out our online enquiry form.
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