Base Rate Cut By 1.5%

pureaswhite

The interest rate going down is very good news. :j

I am very bummed out though because I fixed my rate at 6.35% for three years last month. Everywhere else was only offering me over 7% on a 95% mortgage so I thought it would be a good deal and I couldn't afford to have it going up anymore than that. :rolleyes:

Anyway, pleased for everyone else. Though this does mean one thing...we are definately heading for a ressession.

Check out Martin's Ressession proof link.

http://www.moneysavingexpert.com/protect/recession-guide

Wappers

Abbey tracker.

space_rider wrote: »

I have a tracker with them too and still waiting for the letter with the revised amount.

Abbey track the rates at the 3rd of the month, I suspect there is a letter in the post, and you will also get one in about a months time for this cut.

space_rider

pureaswhite wrote: »

The interest rate going down is very good news. :j

I am very bummed out though because I fixed my rate at 6.35% for three years last month. Everywhere else was only offering me over 7% on a 95% mortgage so I thought it would be a good deal and I couldn't afford to have it going up anymore than that. :rolleyes:

Anyway, pleased for everyone else. Though this does mean one thing...we are definately heading for a ressession.

Check out Martin's Ressession proof link.

http://www.moneysavingexpert.com/protect/recession-guide

We just need to keep our jobs now:mad:

silvercar

mystic_bertie wrote: »

i_have_a_68,000_mortgage_with_a_+0.24%_tracker_how_much_will_i_save_will_it_be_£12.50_per_10,000?_with_the_1.5%_decrease?

my
keyboard
is
broken

interest only: a 1.5% reduction on 68,000 is £85 per month.

smiths84

GStar25 wrote: »

I agree it seems thay have no option but to cut. I have contacted them, to be told they will make enquires. I'm not holding my breath, seems like they're trying to back-out of the guarantee they gave of no-more than 1% above base rate.

While waiting to see if FD (part of HSBC) pass on the cut I had a look at their old press releases and found one from ages ago that guaranteed that people with offset mortgages who's rate was pegged to FD's SVR would pay no more than 1 per cent above the base rate. This applied to people taking out a mortgage before the end of 2004. So these people must be guaranteed an SVR cut -and surely FD can't apply a different SVR for people (like me) who took out an offset mortgage after 2004? In other words, I'm Hoping FD have to pass on the cut in full since their SVR is currently 1 per cent above base. `

smiths84

Baz wrote: »

I think you should be fine, but that deal has been pulled today. It even says so on the website now.

blimey! Iapplied for this deal yesterday on a just in case basis - got approved in principle and the paperwork through today. think I'll wait tho to see if their SVR (which I am on at the mo) gets dropped..

mystic_bertie

silvercar wrote: »

interest only: a 1.5% reduction on 68,000 is £85 per month.

thanks_very_much_;)

bfgun

mystic_bertie wrote: »

i_have_a_68,000_mortgage_with_a_+0.24%_tracker_how_much_will_i_save_will_it_be_£12.50_per_10,000?_with_the_1.5%_decrease?

my
keyboard
is
broken

With the reduction in your mortgage payments why not treat yourself to a new keyboard

bfgun

First Direct have pulled their Tracker Mortgage.

LouBlue

Hi there.

Our fixed rate with IF finished a couple of months ago. At the moment we have an Intelligent Finance SVR mortgage at 7.00%. Anyone think the cuts will be passed on at all?

Trying not get excited, if they don't.