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Bank of england base rate/lending rates in general
marc3
Posts: 315 Forumite
I probably ought to have been posting this in april ,when this probably was discussed .
Its more of a general interest question.
obviously base rate was reduced in march.
some lenders reduced their lending rates/some didn't .
I have one of each ,but needless to say-slightly irked about the one that one hasn't ,albeit they are not obliged to anyway
both loans are interest only .
normally you get a bit of an outcry if lenders dont pass the reductions on-albeit with the speed of a slug .
i dont recall any outcry this time so has it just been 'accepted ',that in many instances-we just wont get the savings passed on ,or are we all so pre-occupied with covid-19 that no -ones really bothered ?
i just wondered 'generally' if the majority of lenders had reduced ,or if the majority of lenders kept lending rates the same and kept the additional profit for themselves.
Its more of a general interest question.
obviously base rate was reduced in march.
some lenders reduced their lending rates/some didn't .
I have one of each ,but needless to say-slightly irked about the one that one hasn't ,albeit they are not obliged to anyway
both loans are interest only .
normally you get a bit of an outcry if lenders dont pass the reductions on-albeit with the speed of a slug .
i dont recall any outcry this time so has it just been 'accepted ',that in many instances-we just wont get the savings passed on ,or are we all so pre-occupied with covid-19 that no -ones really bothered ?
i just wondered 'generally' if the majority of lenders had reduced ,or if the majority of lenders kept lending rates the same and kept the additional profit for themselves.
0
Comments
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It's because most people understand that the situation we are in has increased risk levels so significantly.
Some rates have increased to compensate for the additional losses being incurred.
Rates are influenced by much more than just BoE rate0
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