The governor of the Bank of England, Mervyn King, has indicated that an April interest rate cut has become more likely as a result of the tighter credit conditions that are in place in the UK – news that will be welcomed by struggling homeowners that need to cut back on their outgoings. The governor [...]

All mortgages in the UK come under two main categories, which are repayment mortgages, also known as capital and interest mortgages, and interest only mortgages. With repayment mortgage the monthly repayment made by the borrower is applied to both the loan and the interest on the loan, which means that at the end of the [...]