RBS cut rates

manikm

as of yesterday RBS reduced their rates - as an existing customer this is great news for the higher LTV bracket people like myself...

as i can now get a 5 or 10 yr fixed at 6.24% - i think its 6.39 for non customers.

foreversummer

Are you sure you want to fix at 6.29% with a high LTV? There are lower 5 year fixes out there and it is very likely that interest rates will fall next year, so you may well be better off with a tracker.

Depends on your circumstances of course, which you do not tell us.

Foreversummer

manikm

no, im not sure i want to fix at this rate - but at the beginning of this month i was looking at a 6.69 rate. i'd prefer to fix at pre 6% but its not gonna happen due to this:

RBS, (current lender) last month classed me in the 90% LTV bracket, this month, im now in the 95% LTV bracket, cos of recent the tumble in house prices.

So, i'm lucky i can get this rate at all with my current lender, dont forget, if i remortgage to another lender, i'll end up with the same or crapper rate and HAVE to get my house valued and go thru all that malarky.

im thinking long term fixed, say 10 yr - cos it saves me £1000 every 2 or three years in remortgaging fees - probably what i'd save by renewing trackers every 2 or 3 yrs

manikm

i spoke to another guy - it turns out the woman got it wrong, and im still in the 90% LTV bracket.

hooray I can get a tracker at 6.09%

do u think rates will go down? LOL