Introducing the LemonFools Personal Finance Calculators
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I was on a mortgage rate of Base Rate less 52bps for a 3 year "teaser" period some years ago. When the MPC reduced Base Rate to just 0.50% I had an "interesting" conversation with the provider on how I could set up a direct debit for their payment to me. Obviously no such arrangement took place, but there was no restriction, or floor, to the effective rate, so for a period of time my mortgage balance was reducing whilst my monthly payments were £0 each month.
I doubt this is true. 10 year bund (German government bond) yields are at around -0.3%. So even though this is in DKK it feels low to me. In Switzerland government bond yields are more negative still and they have 10 year mortgage rates in the 1-1.5% area.
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