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Fri 03 Mar 2009Counting the cost of a fixed rate exit
As the ECB interest rate hits a record low, borrowers stuck on expensive fixed rates should explore the possibility of switching mortgages to save money, writes Caroline Madden
WITH EACH successive interest rate cut announced by the European Central Bank (ECB) since last October, borrowers on tracker mortgages have gleefully calculated how much extra disposable income they will have as a result, while mortgage holders locked into expensive fixed rate deals have looked on with envy.
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