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Watch-out-for-fixed-rate-tie-ins

Distribution Services Analyst

The Distribution Services Analyst is a key part of the Distribution Services group and is ...

(Two) Field Representatives- 1) Lakeland, FL and 2) Phoenix, AZ

Two positions available: One in Lakeland, FL and one in Phoenix, AZ. I. G...

Replenishment Analyst

Qualified candidate would manage key vendors who are critical to the success of the business of who ...

Inventory Control Manager

Greatwide Distribution Logistics is a leading U.S. non-asset based transportation ...

Air freight Coordinator

Champagne Logistics is a company that has always placed the business goals and objectives of our ...

Target DCs: Senior Management Opportunities - Phoenix, AZ

See Yourself At Target Employing more than 270,000 team members in 47 states, we value creativity, ...

Industrial Engineer- Distribution

The Industrial Engineer- Distribution is responsible for the following: ? Providing ...

Production Planner

Ducommun Technologies Inc. (DTI) is a leading aerospace manufacturer and supplier of mechanical and ...

Target DCs: Senior Management Opportunities - Little Rock, AR

See Yourself At Target Employing more than 270,000 team members in 47 states, we value creativity, ...

Site Manager- Springdale, AR

DESCRIPTIONIDG USA, LLC. is a nationwide supplier of maintenance, repair, operating, and production ...

Watch out for fixed rate tie-ins

Fixed rates with very low starting rates and then a long tie-in period are liable to give the borrower a nasty "interest rate shock".

This is experienced by the borrower at the end of the fixed rate period which could see payments rising by three or four times the original amount: a huge change in anyone's budget.

If you are stretched to the limit on your income multiples a rate hike can make matters even worse.

The lure of the very cheap rate is dangerous indeed, especially when tied in for years afterwards.

Portman has a 1.19% fixed rate until 1.10.05, followed by standard variable rate until 1.10.09 with penalties ranging from 7% to 2% of the loan.

· Simon Jones is a director of mortgage broker Savills Private Finance. Tel: 0870 900 7762

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