Long-term fixes look good value don’t they?

Yes, but Boulger advises borrowers not to lock into a deal lasting more than three years. He said: “Within three years the credit crunch will have eased considerably so mortgage rates will have come down.”

Samantha Unwin and Michael Dolan of Northolt, north-west London, locked into a three-year fixed-rate mortgage with Abbey at 5.72% this month. Their current deal, a two-year fix from Principality building society at 4.85%, ends in July.They will pay ₤67 more a month on their mortgage of about ₤130,000 on a ₤185,000 maisonette.

Samantha, 33, a box-office manager and Michael, 34, a trade-union worker took the deal as they recently had their first baby Joe. “We wanted a fixed-rate deal because with having the baby we need certainty”, she said.

The Sunday Times (2600)

Notes

lock, v in закрыть, зд. придержать

snap, v up ухватить, перехватить

soar, v [so:] повышаться, стремительно взлетать вверх

trim, v подрезать, урезать

albeit [o:l′bi:it] хотя

reluctant делающий что-либо неохотно

17. Translate the following words with different prefixes and suffixes:

re mortgage, un precedented, un likely, re payments, considerab ly, month ly, slight ly.

18. What do these complex words mean?

wholesale, homeowners, nationwide, headline, homebuyers

19. Translate the following word combinations:

financial-data firm, quarter-point rate-cut, two-year deals, two-year fix, north-west London, a three-year fixed-rate mortgage, box-office manager, trade-union worker.

20. Try to match up the words in line 1 with the words in line 2:

1. заемщик, займ, ипотека, кредитовать, кредитор, снижать процентные ставки, сделка (соглашение), спрос, рынок, выплата

2. repayment, lender, borrower, loan, to cut interest rates, deal, market, mortgage, demand, to lend

21. Match up the words in column A with their synonyms in column B:

A B

1. deal a. to end

2. to cut rates b. lender

3. loaner c. to trim rates

4. credit d. contract

5. credit crunch e. loan

6. to expire f. default

22. Translate these sentences into English:

1. Кредиторы снизили ставки на прошлой неделе. 2. Инфляция поднялась до 3,7% к концу года. 3. Мы наблюдали беспрецендентный спрос на такого рода соглашения (сделки). 4. Они заключили соглашение (сделку) на 3 года с этим банком. 5. Их соглашение заканчивается в июле.

FOREIGN ECONOMIC RELATIONS

(ВНЕШНИЕ ЭКОНОМИЧЕСКИЕ ОТНОШЕНИЯ)