Base Rate Cut By 1.5%

koexelek

marshallka wrote: »

Just noticed on IF website that they do not do any Mortgages over 75 LTV now as well as putting their tracker rates up..:eek:

Yes, I quoted a client on a 85% loan to value deal a couple of weeks ago.
He came back today saying he wanted to proceed, and it had gone

marshallka

koexelek wrote: »

Yes, I quoted a client on a 85% loan to value deal a couple of weeks ago.
He came back today saying he wanted to proceed, and it had gone

Was that IF??

koexelek

marshallka wrote: »

Was that IF??

Yes it was indeed

marshallka

koexelek wrote: »

Yes it was indeed

I was quoted 1.7% above base rate and had the documents (illustration) sent out and have been with them for about 4 years. I wondered if they would accept this now at what i was illustrated on. It was sent one month ago... what are my chances??

stu1892

Hi all. Thought i better post in here instead of creating a new thread.

I have a mortgage in place with halifax for a fixed rate mortgage. Last time the rate was cut, they raised the fixed rate! With this cut is it likely they'll drop it?

I ask because now the ball is rolling with the solicitors and it could be done and dusted in 3 weeks.

Should i delay it a week or two so i can see if Halifax can give me the better rate just before all the contracts are exchanged etc?

The repayments for the fixed rate went up £30 last time the rate dropped while the tracker fell. So £30 in my pocket is a massive amount to what i have my current mortgage offer.

Cheers

koexelek

marshallka wrote: »

I was quoted 1.7% above base rate and had the documents (illustration) sent out and have been with them for about 4 years. I wondered if they would accept this now at what i was illustrated on. It was sent one month ago... what are my chances??

Difficult to say. It depends whether they just printed you off a current illustration, or whether they actually reserved the funds for you at the time.

Hope it's the latter

grogdog

marshallka wrote: »

Ours finishes next month and was offered 1.8 tracker and did not sign in time. I still have the papers from last month 8th October but thought might wait for a month. I rang intelligent finance tonight and asked about the cuts and they will HAVE to be passed onto trackers but like I say ours finishes next month. Didn't IF pass the 0.5% onto to everyone then last month. I got it on my tracker from 2nd November so I guess it was not passed to SVR which means I have really messed up here. I am going to ask if I am allowed to take up the tracker they offered still of the 1.8% last month. Does anyone think they will still let me..:mad: . Will they say "no" sorry they have now gone up?? It was an illustration they sent to me??

highly unlikely that the 1.8 tracke is still there so they will not let you have it

marshallka

koexelek wrote: »

Difficult to say. It depends whether they just printed you off a current illustration, or whether they actually reserved the funds for you at the time.

Hope it's the latter

One person told me I did not have to decide yet and that was a couple of weeks ago so going to give them a ring in the hope that they do let me. I have rang this evening but she says it was only an illustration and that if I was told (and I remember one of them saying to me!!) it would stay open then they would probably do it but she did not know. She did say that all calls are recorded so that is one thing in my favour...

I did refuse to take it there and then and when they rang me again to ask as I felt that the arrangement fee that was included and then what I would be saving was not enough to make the deal. I now want it though and will be mad if I have lost out on this one...:eek:

thanks for replies...

Phill_-_Liverpool

jimbo_the_jetset wrote: »

For those who are making ~£100 + saving it may be worth considering keeping the payment above the minimum and trying to reduce capital while the going is good if you can afford it

couldn't agree more mate

LouBlue

marshallka wrote: »

Didn't IF pass the 0.5% onto to everyone then last month. I got it on my tracker from 2nd November so I guess it was not passed to SVR

Haven't passed it onto me yet, I have IF SVR mortgage. Hoping for one of the cuts at least!