Natwest rates to come down after last cut?

Hagar_uk

Hi all,
I currently have a Natwest Mortgage, on a two year fix about to expiry, I logged on line  to see what was available and was offered another 2 year fix at 2.25% (£0 costs). I was about the electronically sign up for this, when I saw on the TV the base rate had been cut by 0.5%,so I held off signing.  I was expected with the new base rate cut that nestwest would also reduce the interest on the mortgages by some amount.  But it seems they have not.   Does anyone wiser know if they are just being slow about reducing their rates, or have rates dropped so much they just won't bother.
Bit of background mortgage value left is about £27K with 6 years left, So while there are many better offers with a better% the fees I think make it more expensive for a 2 year fix

Thrugelmir

There's no correlation between fixed rate mortgages and BOE base. Lenders use various deposit streams to secure funding. This is what determines the rates they are able to offer. 
With such a small balance owing, remortgaging  to a new lender is highly unlikely to be an economic option. Take the rate on offer that best suits your circumstances and overpay by whatever you can afford. Overpaying is the way to save yourself interest in the longer term. 

[Deleted User]

Hagar_uk said:

Does anyone wiser know if they are just being slow about reducing their rates, or have rates dropped so much they just won't bother.

I'd imagine they're busy trying to work out how much to put their rates up, in the current climate. not down.