BoE base rate reduction.

steveeeee

dazzaofdagenham wrote: »

can it go any lower ?

darren

Could do. I'm expecting another 0.5% drop on the base rate in a couple of months

davidreed113

davidreed113 wrote: »

Last July I managed to secure a tracker mortgage from the Halifax at .2% below base rate for 3 years. I am wondering if the BOE base rate falls to 0% will the Halifax owe me money every month?

Still no thoughts by anyone on my theory?

financialbliss

Quick bump on this poll as we've had another rate reduction today to 1%

Closes on 7th February in case you still want to vote...

FB.

spider31

nationwide part SVR part Tracker, total going out was 1600 its now 800

Kez100

davidreed113 wrote: »

Still no thoughts by anyone on my theory?

I think this is all over the news. Banks may go to court to fight their position on not paying you but instead stopping at virtually nil.

Their argument is that interest on a loan is due to be paid by you not received. My argument would be that lifetime trackers are all mainly + BOE and your short trem (and b****y well timed if you don't mind me saying)below BOE was no doubt agreed at a cost - your product fee. That product fee is really some sort of rolled up interest and so you are due a minus interest rate and money back! But then I am not a lawyer and do not know what I am talking about.