BoE cuts rates to 3.0%!!!

baileysbattlebus

mystic_trev wrote: »

It's going to be interesting to see how many Lenders withdraw their Trackers.

3 of them did, it was on the news this morning

http://www.guardian.co.uk/business/2008/nov/06/lloyds-barclay-tracker-mortgages

adr0ck

hethmar wrote: »

Do you think mortgage rates will really show this drop?

i doubt it

unless a lot of pressure is put on the banks by Gordon

luvpump

adr0ck wrote: »

and therefore help our export market

And Therefore make Imports even more expensive , There is a flip side to every coin

poppy10_2

SingleSue wrote: »

Ok, for the archivists amongst us....when was the last time interest rates were this low?

1955, according to the BBC.

http://news.bbc.co.uk/1/hi/business/7713006.stm

Running_Horse

Cool, can't wait for the letter from the Nationwide telling me how much my BofE tracker mortgage payments are now. All this does is bring us in line with other countries. Even inflation is not a problem as my employer is very good about decent annual pay rises. The only downside is the tracker is now near its lower limit mentioned in the smallprint, but now in bold at the top of the page.

Jonbvn

SingleSue wrote: »

Ok, for the archivists amongst us....when was the last time interest rates were this low?

According to the Torygraph 1954!

BTW, I wasn't even a glint in my father's eye back then;)

They are also saying that there a 4 million tracker mtgs?
http://www.telegraph.co.uk/finance/economics/interestrates/3390779/Bank-of-England-cuts-interest-rates-to-3-per-cent---lowest-since-1954.html

lisaloo1977

may 1954 last at this amount.

LLoyds TSB are going to pass on the full 1.5% from Dec 1st.

hethmar

Im in a quandry here as one of my family are just about to sign up to a fix of 6% for 2 years - hmmmm.

pawpurrs

It was in the pipeline, if I cant sell I guess it helps if they pass it on as I will be going on to the SVR for part of my mortgage from next month, but if I do sell then the house money wont be working very hard, is there any savings rates I should grab now, that are fixed in case I sell? Anyone? I opened a NR instant access before they closed it, but I guess that rate is not fixed

pawpurrs

lisaloo1977 wrote: »

may 1954 last at this amount.

LLoyds TSB are going to pass on the full 1.5% from Dec 1st.

What about Nationwide? As my mortgage goes to SVR on 1st December, they are normally good at lowering rates?