Bank of England: We'll slash interest rates to ZERO to rescue the economy

potnoodle_2

http://www.dailymail.co.uk/news/article-1085038/Bank-England-Well-slash-rates-ZERO-rescue-economy.html


Slight over exageration by mail, parrantly when questioned mervin didnt rule it out, not same as saying he would slash to zero but neways, doesnt seem a good time to be fixing.

i am almost at end of 2 year 0.13 below base with abbey, they gave me new fix and tracker offers out today, 4.59 plus £899 fee 2 year fix or 4.89 plus 899 fee tracker i think, then there was a 5 year one at around 5.49 for 399 fee. not really impressed with anything at moment considering rates so low.

have 82k mortgage so takes around 2 years to recoup the £800 quid, looked at hsbc tracker of .99 above base for lifetime but they want 799 up front just before xmas, ouch!

Baz_2

potnoodle wrote: »

have 82k mortgage so takes around 2 years to recoup the £800 quid, looked at hsbc tracker of .99 above base for lifetime but they want 799 up front just before xmas, ouch!

You can add it to the loan, I know that as I applied for that today and they asked if I wanted to do that.

potnoodle_2

i thought u could normally too but she specifically said i had to pay up front..went through agreement in principle today so will requery when go through proper application tomorrow

Baz_2

potnoodle wrote: »

i thought u could normally too but she specifically said i had to pay up front..went through agreement in principle today so will requery when go through proper application tomorrow

You might be right actually. My KFI does say its payable on application.

The girl must have been mixed up.

Anyway, application being made tomorrow. Whats your LTV out of interest?

manikm

you cant add the fee to an HSBC loan!

been there tried that - had to stump it up front. (599 fee on the .79 above base deal 1 month ago)

koexelek

manikm wrote: »

you cant add the fee to an HSBC loan!

been there tried that - had to stump it up front. (599 fee on the .79 above base deal 1 month ago)

It's still fantastic value, even if you do have to pay the fee up front.

I can't say I blame them for doing it that way. Get's rid of timewasters

potnoodle_2

baz my ltv is around 33%. defo wont bother with the hsbc if its upfront, oh hum, back to searching again!

Baz_2

potnoodle wrote: »

baz my ltv is around 33%. defo wont bother with the hsbc if its upfront, oh hum, back to searching again!

Yes its upfront and you can't pay on a credit card either.

You can however add £1000 to the redemption amount as a homeowner loan to repay the fees to yourself. Ive done that and the credit checks went ok and I'm all set to go.

Thankfully the £799 is refunded if the valuation is too low. My LTV is 57% if I take the value to be the average of the identical houses to mine on the market at the moment. Thers a little bit of leeway but not much so understandably I'm slightly worried.