Interest Rates Cut to 0.25%

akorn77

https://www.bbc.co.uk/news/business-51831004 

I wonder how long it will take to feed into mortgage products?

Edit: Looks like Halifax and Nationwide have changed!

Megandlg

I was just wondering that, especially as Im waiting for a decision on a fixed rate mortgage! 

akorn77

I got my mortgage offer 2 weeks ago. I will call Halifax and ask if I can change to a cheaper 2yr fix or take out a cheaper 5yr fix (assuming they change their products!)

Darkslider

We're sure to exchange today so I'll be missing out on any potential savings. Just my luck!

mamsiller123

Nationwide have cut theirs already!

2010

Green light for the house builders to whack up prices even higher.

kataklizm

Also just got an offer for a 5yr fix & about to complete the remortgage .... absolutely typical 😄 Wonder how quickly the deals will change & if it's worth pausing.

akorn77

I've just emailed my broker first. Lets see what he says. 

Anyone else managed to find out how Halifax are handling it? 

bell

Spoke to my broker not expecting cuts on rates for new business yet as rates are very low already. 

akorn77

My broker has put in my request to get my mortgage offer changed. It's currently 2y fix @ 1.8% and will go down to the new rate of 1.59%. 

He said it should take around 48 hours, and no further checks will be done. 

Marvel1

Phew, I'm glad I held off fixing my mortgage for the remaining 10 years 2 months ago, brilliant news 

I'm on the Base Standard Rate with nationwide 2% above BOE since my 2 year tracker ended in 2009, ever since I took it out November 2017, it just dropped!