For Halifax Tracker Customers

lwrighty

http://news.sky.com/skynews/Home/Business/Interest-Rate-Bank-Of-England-Set-To-Announce-1-Cut-To-2---The-Lowest-Rate-Ever/Article/200812115172157?lpos=Business_Carousel_Region_2&lid=ARTICLE_15172157_Interest_Rate%3A_Bank_Of_England_Set_To_Announce_1%25_Cut_To_2%25_-_The_Lowest_Rate_Ever_

bengee1977

Aye, just noticed this on another site. Great news

bengee1977

New BR = 2% (1% cut)

princess_leia_3

Looks like good news
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/3548133/Interest-rates-cut-Halifax-will-ignore-mortgage-collars-and-pass-on-full-benefit-to-tracker-borrowers.html

bengee1977

princess_leia wrote: »

Looks like good news
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/3548133/Interest-rates-cut-Halifax-will-ignore-mortgage-collars-and-pass-on-full-benefit-to-tracker-borrowers.html

You're about 3.5 hours too late

princess_leia_3

The news I read at lunch time did not mention that they were passing on rate cut and I missed the link above

flyinglemming

Been keeping my eye on this thread for the past month and have to admit that I was relieved to hear that Halifax are not enforcing their "collar" today (apparently, they say it's technically not a collar to justify their absurd clause on how margins are treated - according to the Guardian online).

In any case; if they decided to enforce a floor that could end up increasing the overall tracker margin then I'd imagine there would be one hell of a public sh*t-storm on their way.

Still keeping my eye on this one in case we see a U-turn by the banks due to any sudden realisation that all this rate cutting is not conductive their profit margins.

lwrighty

I've just found this on the internet.... hope its true...It says that Halifax will pass on this cut to tracker mortgages.....

http://www.thisismoney.co.uk/mortgages/mortgages/article.html?in_article_id=464349&in_page_id=58&ct=5

princess_leia_3

Ooh lets hope so

payless

My guess is most halifax trackers customers were on 2 yr deals - so many will be moving to SVR soon.