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Abbey reignites tracker market

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Comments

  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    A lot higher than they were, though (not at all surprisingly).

    Their cheapest tracker, at 4.89%, is 1.89% above base rate, and only available for 60% LTV. And a £500 fee.

    I don't think taking this would make much sense if they maintain their 3% collar. This would mean that this mortgage could only go up, not down.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • m1ntie
    m1ntie Posts: 331 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    neverdespairgirl wrote: »
    A lot higher than they were, though (not at all surprisingly).

    Their cheapest tracker, at 4.89%, is 1.89% above base rate, and only available for 60% LTV. And a £500 fee.

    I don't think taking this would make much sense if they maintain their 3% collar. This would mean that this mortgage could only go up, not down.

    I am not sure that the collar exists for many existing borrowers!

    http://forums.moneysavingexpert.com/showthread.html?t=1277509
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    No, but I reckon the odds are good that it will for future ones!
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • sarkin
    sarkin Posts: 785 Forumite
    phone the service centre they will tell you.
  • koexelek
    koexelek Posts: 7,847 Forumite
    Those rates aren't too bad.

    They are on a par with trackers that were on offer about a month ago.

    It's no good wishing the lenders would offer trackers of just over 3%. It just isn't going to happen
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • rchddap1
    rchddap1 Posts: 5,926 Forumite
    We can dream though can't we.
    Baby Year 1: Oh dear...on the move

    Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
    Love to my two angels that I will never forget.
  • TheGreatBear
    TheGreatBear Posts: 38 Forumite
    its 'dreaming' which got us into this mess in the first place!!!
    I am a mortgage advisor:A
  • rchddap1
    rchddap1 Posts: 5,926 Forumite
    lol. Good point.
    Baby Year 1: Oh dear...on the move

    Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
    Love to my two angels that I will never forget.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    koexelek wrote: »
    Those rates aren't too bad.

    They are on a par with trackers that were on offer about a month ago.

    But if they do maintain the 3% collar, surely it can only go up?
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • koexelek
    koexelek Posts: 7,847 Forumite
    neverdespairgirl wrote: »
    But if they do maintain the 3% collar, surely it can only go up?

    True. They are much better than any fixed rates currently on offer though, so if rates stay low, are worth taking, even if there will be no further rate reductions
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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