Barclays/woolwich Tracker !!

minimike2

Barclays is pretty well capatalised, i wouldnt worry about it going under.

Even if it did and another company took over your mortgage, you would keep your rate.

Nelski

I am on the Woolwich BBR + 0.18% so obviously am hoping they pass it on. Would seem to make good sense to pay a chunk off now I guess - not a lot of benefit in savings moving forward atm

Paulwat_2

I am in a similar position to Sandy W7 in that I have a mortgage offer and it states that it is valid until 30th April 09. ( I posted about this earlier)

I cannot find anything in the attached literature that says they can pull the offer back.

The product the offer was made on no longer exists and I haven't had a call yet from the applications team saying need to change - prior to the offer letter I had to move products twice due to them changing mid way through the application process.

I can't see how the bank could get away with changing things once an offer has gone out as they would potentially need to re underwrite everyone to make sure they could afford the new deal and depending on how long remortgage takes this could happen multiple times in the current climate.

On the topic of the Rate cut there was an article in the gaurdian that said Woolwich / Barclays would be passing on the rate cut and would continue to to track the BOE rate

Cheers

Paul

Trying_to_be_good

Trying_to_be_good wrote: »

Barclays/Woolwich phone line (0800 022 4022) now confirming existing tracker customers WILL see their interest rate reduced by 1.5 percentage points from 1 December, i.e. Barclays Bank Base Rate (BBBR) will drop in line with BoE Base Rate to 3%.

Decision on SVR (i.e. non-tracker mortgages) to follow.

I say again - YES - THEY ARE PASSING ON THE WHOLE REDUCTION. You don't need to wait and hope!:beer: