Base Rate Cut By 1.5%

bfgun

Just read the Times article.

These lenders are no different to those selling petrol / diesel. As soon as rates / oil go up they waste no time in adjusting their prices.

But when they come down there is little or no change in the price.

It really sickens me and provides more evidence that the consumer in this country gets turned over time and again.

Phill_-_Liverpool

marshallka wrote: »

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

Good luck;)

i'm feeling quite confident as the times wording seems based on fact using the word promised, rather than, "it is believed" or something equally vauge, thanks again.


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.
:T

minimike2

Nationwide are reducing thier SVR by the full amount too...

payless

have you an official link to that mike all I can see so far is
http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1292

markabuckley

in a dillema here - wondering how much the SVRs will track ... we're on a SVR at hte moment

and was going to change over to the HSBC lifetime +0.99% tracker

but after the 89 closing fee from Natwest (or whatever it is) + 799 to HSBC - I'm beginning to wonder how much we'll actually be saving say over the next 3 years ...

is it actually worth it ?

or mortgage is about 640 a month at the moment, so compared to some it relatively small - hence why I'm beginning to think how much I'd actually save after the fees ?!

huskypup

Any word about the Royal Bank of Scotland passing on the cut, we have a One Account, they passed on the 0.5% cut quite quickly, wonder if they will pass this one on, considering they were also bailed out by the Government, I think its the least they can do.

pawpurrs

minimike2 wrote: »

Nationwide are reducing thier SVR by the full amount too...

What will that make it then? And from when? I am due to go on to the SVR from 1st December.

stu1892

stu1892 wrote: »

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

anyone?

moneywolf

We have a newcastle offset tracker 0.5% above base rate, does anyone know what the floor limit is ?

I have read through all the paperwork & can't seem to find one.

Anyone help ?

bunsmum

First Active would appear to be passing it on in full (not a huge surprise, given that they always have - and promptly - before). From their website:

"All rates (except the 'fixed rates') are directly related to the Bank of England Official rate - currently 3.00%. 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."

Link:
https://www.sales.firstactive.co.uk/P100/fa/calc/faInterestRates.do

WOO HOO!!! Finally, a bit of a break. I love you First Active! LOL!