Warning! Fixed rate deals about to be withdrawn

scottp_2

RBS is getting rid of its 4.99% deal, and upping it to 5.15% i believe.

We were getting some good custom from the 4.99%, with brokers actually using our products!

Hope that helps!

MarkyMarkD

I understand your points too, homer, but I don't see a happy medium here.

It's honestly better for customers (when rates are increasing) that rates are increased as slowly as possible - and 4 increases of 0.05%, once a week, are better than 1 increase of 0.20% up front. Everyone who saves that 0.05%, 0.10% or 0.15% will appreciate that.

But obviously it creates more work for intermediaries AND creates the impression that they are pressure selling when in fact they are not.

tomstickland

My 2 year fix is at the half way point now. What's it going to be like this time next yea do you think?

meanmachine_2

http://www.swap-rates.com/UKSwap.html

The site's been updated again, and interesting to see the cost of 3, 5 and 10 year swaps jump over the past few days.

6.25% for a three year fix must the highest in a long long time.

That's the effect of the US bonds market for you.

meanmachine_2

dwight-van-man wrote: »

Probably, but just to annoy brokers and the public, most lenders will reprice but only by 0.1-0.2%, then do it all again in two weeks time....

Correct. Northern Rock to increase rates by...drum roll...0.2%