LIBOR still dropping...

Jacka87

I appreciate that banks now use swap rates but the swap rates are currently also showing a reduction on the peak they hit around a month ago.

My point was more that I wish the government would take a harder line with the banks as it looks like they are going to get away wit doing what they like, making lots of money screwing the british public!

inspector_monkfish

Jacka87 wrote: »

I appreciate that banks now use swap rates but the swap rates are currently also showing a reduction on the peak they hit around a month ago.

My point was more that I wish the government would take a harder line with the banks as it looks like they are going to get away wit doing what they like, making lots of money screwing the british public!

have you seen my thread on Euro Mortgages?
http://forums.moneysavingexpert.com/showthread.html?t=1850507

base rate is higher in EuroZone....LIBORs are lower....mortgages are cheaper....

inspector_monkfish

LIBORs 31st July

3mth 0.8875 (down 1/8pt)
6mth 1.09875 (down 1/2pt)
12mth 1.42375 (down 1pt)

inspector_monkfish

LIBORs 3rd August

3mth 0.8825
6mth 1.0925
12mth 1.41625

(all down between 1/2 and 1pt)

Charlton_King

Ok... so who's going to start the 'do something about the lenders' rates' petition on the No. 10 website?

If I knew how to do it I would. I would certainly sign it and I suspect so would a few million others faced with ridiculous mortgage rates.

mattyc84

Finished my fixed rate and moved onto SVR in June. Was told by one financial advisor to keep an eye on the 3 month LIBOR and when it starts to creep up to tie back into a fixed rate deal. The problem I've had which many have suggested on here, is that the good fixed rate deals that were about have gone even though LIBOR has been falling and there's been on change in the base! Help!

Charlton_King

Spot on. And my guess would be there are a few tens of thousands of others in your position.

This is why we need some lenders' heads banged together.

mattyc84 wrote: »

Finished my fixed rate and moved onto SVR in June. Was told by one financial advisor to keep an eye on the 3 month LIBOR and when it starts to creep up to tie back into a fixed rate deal. The problem I've had which many have suggested on here, is that the good fixed rate deals that were about have gone even though LIBOR has been falling and there's been on change in the base! Help!

inspector_monkfish

Charlton_King wrote: »

Spot on. And my guess would be there are a few tens of thousands of others in your position.

This is why we need some lenders' heads banged together.

only tens of thousands ????

inspector_monkfish

I've set up a MoneySavingExpert Fantasy Football League for anyone that might be interested....


We are up to about 20 entrants now, so looking good.

Tomorrow is my last day before holiday, but you can still enter right up until Premiership season starts.

FREE to enter - with some good prizes from Sky if you get lucky.

Here is the link:
http://fantasyfootball.skysports.com/


- Firstly, you will need to pick your team, and name it. (please use the nickname you have on here, so we know who is who)
- Once you have done this, go to 'My Team', and scroll down to 'Private Leagues'
- Then click on 'Enter New League'
- Then scroll down to 'Joining an Existing League'
- Here is where you type in the 'MoneySavingExpert' League Pin: 2822

Good Luck everyone
Regards
IM


PS. For those that have already entered, the transfer facility is now working if you need to tweak your team at all...

Wutang_2

inspector_monkfish wrote: »

For those that have already entered, the transfer facility is now working if you need to tweak your team at all...

From looking at some of the teams - there is plenty of tweaking to be done!