!!!! Info for First Direct SVR customers !!!

beetlebum_2

I have a SVR offset mortgage with them, and it would be lovely for it to be reduced to 3.69%. I remember when I first got this out 5½ years ago, I was being charged 4.5% (which I think was 0.75% over base rate). As yet, I haven't recevied a letter notifying me of the last rate decrease.

smiths84

I have a conundrum over my FD mortgage. My current mortgage product with them reverts to the SVR on Jan 1st. So it'll be 3.69 per cent, which is bluddy marvellous really.

However I also have the option of paying £400 for their base+0.99 tracker which I signed up for just before they pulled it. That will save me about £50 a month over the current SVR rate, so it will take me 8 months to recoup the fee.

BUT it could save me much more if there are further base rate cuts and FD doesn't pass those on in full to its SVR.

Hmmm...I feel a bit ridiculous worrying about this when people are losing their jobs etc, but can i ask whether people think FD will pass on any further base rate cuts????