Base Rate Cut By 1.5%

Toughluck

C&G state they will always be no more that 2% above base on their SVR. That is good.

sammyjammy

Thats my tracker gone from a peak of £612 down to £512, it won't go any lower because its with Halifax, I'm going to use the opportunity to keep overpaying as much as I can as it finishes next year and who knows what is going to be then!

Sam

michalp

withabix wrote: »

Watch out for the small print...there will probably be a floor built in to their minimum rate.

there is no minimum.

minimike2

Sammy, please see my other thread in relation to Halifax tracker customers.

Good job on the overpaying.....I recommend anyone on a tracker do this is they are able.

Locoblade

minimike2 wrote: »

Good job on the overpaying.....I recommend anyone on a tracker do this is they are able.

Yup, everyone should be able to do this because nobody realistically expected such a drop, whether they will or not though.....

We exchanged onto our +0.49% FD tracker yesterday so great timing for us, we'll be overpaying as if its at 5.5% rather than 3.5% though, as this is what we originally expected to pay when we first applied.

Overthetop

My bank has not passed on the one fromlast month. I have an off set mortgage-so I guess this wont wont be passed on either

spuds_2

According to the papers, it is expected to go even lower - maybe 1% next year - as they try desperately to stave off recession.

withabix

spuds wrote: »

According to the papers, it is expected to go even lower - maybe 1% next year - as they try desperately to stave off recession.

Too late...they should have done this at least six months ago.

Why was it that the people who SHOULD have seen this coming were the only ones who DIDN'T ???

Paulgonnabedebtfree

atlantis187 wrote: »

Bank of England has cut the base rate by 1.5%. It currently stands at 3%

Jesus Christ !!
I don't think many would have predicted that.
Like most I expected 0.5% - 0.75% .
The economy must be in deeper doodoo that was thought.
I suppose they've got room to do it though because the main reason for keeping it higher was inflation fears. I can't speak for other service providers but I would be too concerned to increase my prices right now even if the rates were zero.

bfgun

Feline-Fan wrote: »

Scottish Widows have still not passed on to us, the previous rate cut

Same here with Coventry Building Society.

Their motto "TLC not PLC"