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If BOE BR dropped to 0.25%...
alexlyne
Posts: 740 Forumite
Does anyone believe that any bank/bs will drop their SVR accordingly.. or will they put them up if LIBOR is currently edging upwards?
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I don't think the banks would move unless they were contractually obliged to. For example Nationwide's BMR is guaranteed not to be more than 2% above BoE rate.0
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I remember when we were looking at deflation a couple of years ago there was some discussion of the negative interest rate policy the Japanese tried to impose. I believe for different reasons the Swiss are currently trying to charge people for holding CHF deposits.I think....0
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Does anyone believe that any bank/bs will drop their SVR accordingly.. or will they put them up if LIBOR is currently edging upwards?
Are things really that bad for you?0 -
Hey who cares my mortgages are already low enough at just over 1% (I'm not gloating but apparantly it annoys geneer when he sees that, so definitely worth a mention)Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0
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If base rate were to be cut lower. Then we might as well all emigrate. As the economy would well and truly be on its knees.0
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shortchanged wrote: »Are things really that bad for you?
I'd hate to ever be in a position where they were!
It was just a thought I had. I personally doubt that there'd be any change , beyond the aforementioned contractual changes.0 -
I doubt the BOE base rate would go much lower.
It'd save me about £75 per month if it did, as a good propoprtion of my mortgages are on nice low trackers, so I'd certainly welcome it.0
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