The base rate remained unchanged today. But before you think “Phew!”, reflect on the findings of some new research into the British and their borrowings. Around 90 per cent of mortgages are of the variable rate type; this means that when rates do move upward - May is seen as the most likely month - far many more homebuyers than previously thought will be adversely affected. What’s the reason for the waning in the popularity of the fixed-rate loan? The research, prepared by Legal & General, suggests that borrowers have been more than happy to move onto their lender’s record low standard variable rate (SVR) at the expiry of their fixed rate deal.
The US property blogs ( Bricks & Mortar’s not-so-secret weakness) are full of rumours that Kenneth Bordewick, an interior decorator from Beverley Hills, is set to refurbish the marital home in Anglesey of Prince William and his bride-to-be Kate Middleton. The designer’s previous clients include, reputedly, Prince Charles. For examples of Bordewick’s mostly grand, but sometimes understated work, we suggest you take a look at his website. http://www.kennethbordewickinteriordesigns.com/