BOE Base Rate Cut by 0.25 to 5.5%

marvin

Don't care much about the BOER its the LIBOR I want down.

As someone with a sub prime (only just) mortgage not due to money problems but an ex local authority house of non standard construction normal mortgage was not open to me, believe me I tried my hardest.

raq

I have had all my mortgage fixed term paperwork , haven't signed yet. Fixed for 2 years and gutted really as we could do with saving that little bit more. Any chance I could call my f.a. on Monday and see what he suggests ??

We are sub prime as hubby is self employed. borrowing £133k but £110k equity in house.

tcall

Anyone happen to know if First Direct have reduced their morgage rates in line with BOE rate cut?

toonfish

raq wrote: »

I have had all my mortgage fixed term paperwork , haven't signed yet. Fixed for 2 years and gutted really as we could do with saving that little bit more. Any chance I could call my f.a. on Monday and see what he suggests ??

We are sub prime as hubby is self employed. borrowing £133k but £110k equity in house.

that shouldn't make you sub-prime in any way, make sure you're not being taken for a ride

Dan_Collins_2

toonfish wrote: »

that shouldn't make you sub-prime in any way, make sure you're not being taken for a ride

I think he means lender not rate. Some sub prime lenders have prime deals and will lend on non-standard property, although it would be interesting to know the answers to you question toonfish.

Also I cant see that mortgage rates will drop that much. Over the week or so tracker rates have been increased with a few lenders standing still. Fixed rates have droped a little over the last month but lenders cant afford to get silly as the FSA have asked lenders to be a little tighter with criteria and have made this public. If they are lending less they will need to make as much money out of each mortgage they do sell.

raq

toonfish wrote: »

that shouldn't make you sub-prime in any way, make sure you're not being taken for a ride

Hiya

spoke to our f.a. yesterday who informed us he will chase up the new lenders for our NEW interest rate figure

marvin

Thanks to the cash injection into the lending market by 5 national banks LIBOR has come off a bit but still a ways to go before its back to acceptable levels.

stevenfisher

I'm with Standard Life, who on 7th December increased my mortgage by 0.15% and that was before the BOE announced the rate decrease.

Spoke to them today as not head that they are putting it down and was told that we are not linked to BOE rate and have had no date set for a reduction.

I thought that it was linked to BOE as on the very day they announced the rate going up, I got a letter matching it!

To say I am annoyed would be an understatement...especially as I have a large mortgage! PLus, I am tied in until September on discounted variable. Would cost over £6K to release me!!

Are there still places that buy kidneys?

poppy10_2

stevenfisher wrote: »

I'm with Standard Life, who on 7th December increased my mortgage by 0.15% and that was before the BOE announced the rate decrease.

Spoke to them today as not head that they are putting it down and was told that we are not linked to BOE rate and have had no date set for a reduction.

I thought that it was linked to BOE.

Always read the small print?

m.r.davies

mines up the end of the month

been offered this by current provider

5.99% 2yr fixed (no fee)
5.79% 5yr fixed (no fee)
0.39% Tracker abover base (£199 fee) no tie in

I really dont know what to do
I'm swaying towards the tracker and hope rates come down... but that will cost me 200 bucks for the luxury, and may not pay off

Any advice appreciated, strange why 5yr deal is cheaper....do they know something we dont!?