End of promotional tracker rate

Pincher

Once you lose the BOE+1.0%, you won't get it back.

After the Mervyn King speech, I think you will get a letter with a sweet deal soon.

irwaite

hillcats wrote: »

Just one small point which nobody else appears to have mentioned!
You state "BASE + 1%" now, is this the BofE base rate + 1% or your own mortgage company' base rate + 1% - It COULD make a massive difference as they can just up their own base rate tomorrow to 4% as they please, whereas a BofE tracker would be different. See my point ??

VERY good point. My lender is Scottish Widows and the deal is the SW base rate + 1.00%. However, as I understand it, if they increased the SW base rate to 4% (say) then the savings products that they offer based on that rate would rocket to unsustainable levels. Over the last 2 years, this rate has mirrored BofE base exactly (well from the start of the following month), but well worth keeping an eye on.

Thx for all your replies folks. Thought it was a no-brainer to stick with SW.

FiscalFanny

That's a beer for Hillcats then (don't ya just love this forum)

Fanny x

irwaite wrote: »

VERY good point. My lender is Scottish Widows and the deal is the SW base rate + 1.00%. However, as I understand it, if they increased the SW base rate to 4% (say) then the savings products that they offer based on that rate would rocket to unsustainable levels. Over the last 2 years, this rate has mirrored BofE base exactly (well from the start of the following month), but well worth keeping an eye on.

Thx for all your replies folks. Thought it was a no-brainer to stick with SW.

happyrichard

great deal- it has to be said.

we were on -0.01 tracker for 2 years, and then our one moves to 1.99 above base, which is still competitive, but not as good as this tasty deal.

Enjoy!

louisdog

-0.1 sounds fantastic, while it lasted!

Peelerfart

FiscalFanny wrote: »

That's a beer for Hillcats then (don't ya just love this forum)

Fanny x

Maybe we do, but we much prefer Fan........oops !!!

hillcats

FiscalFanny wrote: »

That's a beer for Hillcats then (don't ya just love this forum)

Fanny x

Thanks !