Base Rate Cut By 1.5%

Locoblade

BadgerMan78 wrote: »

Any word on Nationwide or First Direct yet? I obtained an application pack from FD this morning for their 0.99% above base rate mortgage (so 5.49%) which I assume they'll have to honour if I return this. Does this mean I could actually get this as low as 3.99% if they pass it all back?

Do FD have a base limit like Nationwide and others?

Normally they'll make an offer in principal after the 45 min phone call, in which case it should be reserved for you for a few days, but don't quote me on that, only way to know for sure is to call them.

As its a tracker then this mortgage would definitely go to 3.99% though, there's no "if they pass it all back", it can't do anything other than drop to 3.99% because its tied to the BoE rate, meaning its out of FD's control. Regarding a collar on the tracker, I don't believe they do, I couldnt find anything in the Ts and Cs of my recent agreement.

BadgerMan78

Many thanks Locoblade, this is really helpful.

Sun

Lloyds TSB -> http://www.lloydstsb.com/mortgage/full_term_tracker.asp

We are currently reviewing our tracker mortgage range.
Please check back early next week for an update.

minimike2 wrote: »

Yes indeed...

There goes Skipton...

There goes Woolwich...

Whos next?

Locoblade

BadgerMan78 wrote: »

Many thanks Locoblade, this is really helpful.

No probs, I wouldnt hang around though if you think its the deal for you, find out today if its reserved and how quickly you need to get back to them without losing that

Baz_2

Has anyone tried applying for the First Direct tracker this afternoon.

It seems to be the best remaining tracker out there. I bet they are getting bombarded.

I am planning on ringing them tonight to apply.

Locoblade

I would do it now if I were you, you'll be kicking yourself if they withdraw it in the next few hours.

Vertigo1

Managed to get quoted from my current lender Britannia on their BoE+2.19% tracker for 2 years. Have the option on this for the next three months. Reckon this is a good deal?

Baz_2

Locoblade wrote: »

I would do it now if I were you, you'll be kicking yourself if they withdraw it in the next few hours.

Stuck at work, can't do it until home. Simple as that really.

bunsmum

We're with First Active who have passed on every reduction/rise in full ... fingers crossed for more of the same. This from their website:

"All rates (except the 'fixed rates') are directly related to the Bank of England Official rate - currently 4.50%. If the Bank of England rate changes, these ranges change by the same amount - as soon as we can and always within 5 days. Your interest rate won't change for any other reason. "

Obviously that hadn't been updated (their website isn't exactly high-tech) but here's hoping they don't change their minds! They are a subsidiary of RBS but they are run so much more efficiently and their staff are really nice and helpful!

Anyone know the scoop on them for sure? Or do we just have to wait in suspense for our letter? :cool2:

Baz_2

Vertigo1 wrote: »

Managed to get quoted from my current lender Britannia on their BoE+2.19% tracker for 2 years. Have the option on this for the next three months. Reckon this is a good deal?

Well if interest rates stay the same or go down then yes its a good deal, if they go back up to 4.5% then no it isn't.

Depends what the exit fees are etc or if theres an option to fix in the offer.