We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Question re future SVR's
tonycarew
Posts: 241 Forumite
Please forgive me if what I am about to ask is obvious to some or just plain nonsense,
At the moment the BoE base rate stands at 1.5%.My Halifax SVR is 4.5%.They have hardly stayed in step with the BoE.Obviously there is a 3% difference.If for example the base rate fell to 0% and remained there or there abouts for a while and lets just say the Halifax had fell to around 3% accordingly.What are the chances that the Halifax or any other bank etc would ever lower the rates anywhere near zero for mortgages.Again I appologise if this is a stupid question.
At the moment the BoE base rate stands at 1.5%.My Halifax SVR is 4.5%.They have hardly stayed in step with the BoE.Obviously there is a 3% difference.If for example the base rate fell to 0% and remained there or there abouts for a while and lets just say the Halifax had fell to around 3% accordingly.What are the chances that the Halifax or any other bank etc would ever lower the rates anywhere near zero for mortgages.Again I appologise if this is a stupid question.
0
Comments
-
Would you lend vast sums of money with nothing in return?Official MR B fan club,dont go............................0
-
Would you lend vast sums of money with nothing in return?
You've summed it up in one sentence, however Nationwide have committed to keeping their SVR at a rate not greater than BOE rate +2%. Will it last? Who knows.....Target acheived: _party_ Mortgage offset in June 2012!_party_Mortgage = -£98Endowment = £0Investments = £40,247[STRIKE]Deficit[/STRIKE] / Surplus = £40,149(at 22/09/2017)"Don't spend then save, save then spend!"0 -
Suppose its lender dependant,something i could'nt answer or predict.Official MR B fan club,dont go............................0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards