Base Rate Cut By 1.5%

jtlowrey

Mrs_Pepperpot wrote: »

6 months ago I was ready to fix a rate of 6.25 for 5 years. Thank God that fell through and I ended up with a tracker!

I know exactly what you mean!!!

I was on an A&L 4.39% 2yr fixed which ran out onto a BoE +0.99 tracker. The tracker was a comparable deal to a lot of the fixed rates a year ago. Its a good job through my own inaction I didnt get another fixed rate at stupid%!

well chuffed!:A

mr_mortgage

mr_mortgage wrote: »

Ostensibly, a drop in interest rates weakens a currency - however, this drop was already widely forecasted and therefore built into the market. Given the drop was at the top end of forecasts, there may be some weakening of the currency. However, Eurozone rates also dropped today (as expected, 0.5%) so that will counterbalance the weakening of sterling.

Long and short of it, I wouldn't expect it to make much difference. We've been hovering around GBPEUR 1.23 - 1.26 for the past while and I don't see that changing massively. Maybe we'll see GBPEUR 1.20 before the year is out, but it's not a massive swing.

Silly me. While what I said stands, I didn't suite spot you were off to Prague. Your Euro notes will be perfectly useless there ... They do Crowns there as currency. So, it's more the GBPCZK rate you are interested in!

Locoblade

Baz wrote: »

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

Already too late anyway Im afraid, a friend of mine here at work just called them and its been withdrawn

BadgerMan78

It's still advertised on their website though so is this not false advertising if the offer's been withdrawn?

Perhaps this approach is wirth a try......

Locoblade

Nobody can expect a website to be up-to-the-minute really, so I'm sure their website will say something like subject to availability somewhere.

I dont fancy your chances.

groovy_girl

hi all , does anyone have experience of the lovely IF bank's condition to maintain an SVR at "not more than 2 % above Bof E base rate"? I am convinced that they will wriggle out of the 1.5 % after surprisingly passing on the last 0.5%

payless

why have they ever previously breached their own t&c

Heyman_2

groovy_girl wrote: »

hi all , does anyone have experience of the lovely IF bank's condition to maintain an SVR at "not more than 2 % above Bof E base rate"? I am convinced that they will wriggle out of the 1.5 % after surprisingly passing on the last 0.5%

Well - that is an interesting question!

Wonder whether the STATE-OWNED Northern Rock will pass on the full amount given that Gordon Brown said on Wednesday that he wanted all banks to pass on the full cut

There's a thread here suggesting that Nationwide are going to 'amend' their 2% above promise, although not sure how they could do that for existing customers???

savemoney

Watching news 30 minutes ago, a FA on there said many of the trackers are going so it will probably only benefit those already on it

I hope that fixed deals will come down although obviously wont be as much as BOE rate. Question is, will this be the last? surely they wont go much lower than this

groovy_girl

*118 not as far as I am aware but when I speak with the advisors on the phone they do not seem aware of the "standalone mortgage" that we took out in 2005 as they no longer do anything but offsets. The current T&Cs have changed and I a m not convinced that they haven't got a clause somewhere which allows them to change