Interest Rates cut by 0.5%

manikm

it will be passed on to tracker customers! thats the point of them.

Jamz

My Tracker tracks from the next day on a rate change.. ohh yeah!

ceebeeby

GOOD NEWS!!

We're on a Northern Rock out of mortgage deal tracker at the moment. Does this mean ours will go down?

teedy23

I haven't agreed my new deal yet. Was on the phone right away to see if I can get a better rate, was going to ask if they would erase or lower the arrangement fee anyway, now should I hold out ? Got another week to decide the 5.84 with £999 fee.

plane_boy2000

Result - managed to get 0.89 tracker over base rate from BOS on Monday so looks like its cheaper already!

jtg450

teedy23 wrote: »

I haven't agreed my new deal yet. Was on the phone right away to see if I can get a better rate, was going to ask if they would erase or lower the arrangement fee anyway, now should I hold out ? Got another week to decide the 5.84 with £999 fee.

To me that sounds like the deal I have just taken, NatWest 5 year for current customers. If it is and you go ahead take it, if you can afford it pay the fee, pay it on your Switch or Maestro card over the phone to them. Then you dont get charged the interest on it making it quite a good deal.

_Andy_

teedy23 wrote: »

I haven't agreed my new deal yet. Was on the phone right away to see if I can get a better rate, was going to ask if they would erase or lower the arrangement fee anyway, now should I hold out ? Got another week to decide the 5.84 with £999 fee.

Is the 5.84 a fixed rate? If so they (not sure on lender) won't get rid of the arrangement fee.
Also the Bank base rate changing won't impact fixed rates as swap rates have been increasing.

Kavanne

ceebeeby wrote: »

GOOD NEWS!!

We're on a Northern Rock out of mortgage deal tracker at the moment. Does this mean ours will go down?

Should do. Phone NR to ask when the change will happen. With my Standard Life one it will be 7 days max.

RubyShoes

Good news for me! Was on the way home in the car when I heard, and I had to punch the air with joy!

Thats £56 off my mortgage. I took my tracker (0.34 above BR) out in February this year. Moved in April, and got the full advantage of 2 rate cuts straight away, and now this one!! Yipppppppppeeee!!

I have to say I have been worried about taking a tracker (its a 3 year one!) but hopefully I have made the right choice!

koexelek

Good to see lenders entering into the spirit of things .....

I quoted a client on a 6.99% buy to let fixed rate yesterday. After today's rate cut, they have raised it to 7.29% :rolleyes: