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MSE News: Lenders slash mortgage rates
Former_MSE_Helen
Posts: 2,382 Forumite
This is the discussion thread for the following MSE News Story:
"A flurry of lenders have slashed interest on their fixed rate mortgages including Halifax, Nationwide and Lloyds TSB ..."
"A flurry of lenders have slashed interest on their fixed rate mortgages including Halifax, Nationwide and Lloyds TSB ..."
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Comments
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If you don't mind me saying so - is 4.5% down to 4.41% really considered a "slash"?
I would consider a drop of 0.09 percentage points to be more of a "nibble" or a "slight laceration", rather than a "slash".You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
That's what happens in the media. Things don't increase or decrease. They plunge or plummet or soar.
4.5% to 4.41% is an amount that doesnt even deserve a dedicated thread.
Its also interesting to note different opinions. For example in the article it says:
David Hollingworth, of mortgage brokers London & Country, says: "The expectations for interest rate rises have diminished, so the funding costs for lenders have dropped back, and they are passing that on."
Yet Barclays Global Investors have said that interest rises now look more likely in the next month or two.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
It's a 2% drop in what you're paying. Worth having on what is most people's biggest monthly expense. Maybe not a slash, though.
But presumably many lenders haven't changed their rates. Which means some have slashed theirs to produce this average drop?0 -
YBS has a 5 year fix now for 3.99%. Not bad..... I think?0
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Agree, the YBS 5 yr 3.99 is a better all round deal than hte article suggests with the £495 fee......
Good for me nonetheless, will make the application for this tonight!0 -
Abbey have introduced a 75% tracker at 2.89% with £995 fee. My theory on Abbey is that the Santander group will sheer thier UK cleint Bank in a year or two in order to offset the big losses and toxic balances on the Spannish side of thier operation. They are going all out to grow market share, but mark my words they will extract a price later on.0
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So what will this mean in 'real terms' Conrad?
Thanks,0 -
Not sure what you mean by "sheer", Conrad.
Presumably people on fixed rates and trackers (like the one you mention) won't be affected by any changes as the rates are not set by Santander.0 -
So what will this mean in 'real terms' Conrad?
Thanks,
Probably means they will go for repossession much more than they do now, much like sub primers did in the last few years. They haven't been as aggressive as some other banks.
As long as they offer me around £25,000 to leave them, i'll leave!!0 -
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