Base Rate Cut By 1.5%

marshallka

LouBlue wrote: »

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

Look like the letters were out this week. I read on here where someone with an IF SVR had theirs..

chubbybrown4real

matth36 wrote: »

what affect will the interest rate decrease have on the euro exchange rate...is now a good time to buy euros for jan trip to prague:j

Its Czech Koruna you need not Euros

udydudy

Am on tracker to BoE rate right now, coming to an end Aug 09, hoping this crisis passes off by then or atleast calms down. right now looks horrid with all the Fees making the headline rate real bad. with £2000 arrangement fees on a £100000 loan even a 5.5% rate is actually 6.5%

Anybody got a view on what the fixed rates will be in around 6-8 months time? any guesses? hoping arrangement fees comes down else will just go to SVR I guess.

Chelsea_Boy_2

Just checked the small print in the agreement for my tracker rate with HBOS. I am on a BoE +0.45%, (currently paying 4.95%) so this 1.5% reduction is very welcome as I have an 88K mortgage with 19 years to go. It says that the bottom BoE rate HBOS have to honour is 3%, so any further reduction might not be passed on to me.

I am in a 2 year deal (Nov 2007-Nov 2009). However the first payment with this deal wasn't taken from my bank account until Feb 08! My question is, does HBOS have to honour 24 payments with this deal?

Phill_-_Liverpool

does anyone know if abbey will be passing the cut onto svr customers?

stu1892

Should i hold on before my mortgage and sale go through to see if Halifax reduce their fixed rates?

marshallka

Phill_-_Liverpool wrote: »

does anyone know if abbey will be passing the cut onto svr customers?

A bit of info here from the Times online...

Britain's biggest mortgage lenders have ignored calls from the Government to pass on today's cut in interest rates to struggling homeowners.
Only Lloyds TSB, the bank which is accepting around £5.5 billion in taxpayers cash to shore up its balance sheet, and Abbey, the UK's second biggest lender, have promised to pass on the historic 1.5 percentage point reduction to borrowers on variable rate deals


http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5098702.ece

Phill_-_Liverpool

marshallka wrote: »

A bit of info here from the Times online...

Britain's biggest mortgage lenders have ignored calls from the Government to pass on today's cut in interest rates to struggling homeowners.
Only Lloyds TSB, the bank which is accepting around £5.5 billion in taxpayers cash to shore up its balance sheet, and Abbey, the UK's second biggest lender, have promised to pass on the historic 1.5 percentage point reduction to borrowers on variable rate deals


http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5098702.ece

cheers mate, feel a lot better for that, just coming off a tracker so my mortgage should roughly stay the same. overpayments here i come........

marshallka

Phill_-_Liverpool wrote: »

cheers mate, feel a lot better for that, just coming off a tracker so my mortgage should roughly stay the same. overpayments here i come........

That was from the times but others say different but I think the times online may be right .

Good luck;)

babs

Does Anyone know if A&L have a floor built into their tracker mortgages?

I have a tracker that is minus 0.20% below the BofE base rate till August 09, where it will revert to 0.99% above. So will be paying only 2.80% and so far they have been red hot in passing the cuts on.

I am absolutely delighted that I took this as I had arranged a fixed deal at 6.19% with Lloyds fixed for five years, but just before completion they rang to say that the rate would now be 6.29% - I told them to stuff it where the sun doesn't shine and took the tracker with A&L - The angels must have been watching over me that day!