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Interest Rate Cut - 4.50%

Shrimp_Stu
Shrimp_Stu Posts: 155 Forumite
in Mortgages & endowments
Bank of England has cut interest rates by 0.25% to 4.50%
«13

Comments

  • ps_live
    ps_live Posts: 143 Forumite
    Lets hope it falls a little further in the coming months.

    My mortgage deal (4.99%) ends in March 06, it'd be nice to pay less for change.

    If I can get a 10 year deal at 4.50% or even lower I will bite their hands off !

    Pete
    Debt-free as of 01.10.08. I will never have a CC again and I'm "in the black" :beer:
  • MortgageGenie
    MortgageGenie Posts: 135 Forumite
    It will be interesting to see which lenders pass on the full 0.25% to their customers on the SVR and who uses it to boost profits.
    I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Fairdo_2
    Fairdo_2 Posts: 442 Forumite
    Shrimpers_Joy wrote:
    Bank of England has cut interest rates by 0.25% to 4.50%

    Tried to start thread at 12:02pm when I first heard about it but the forum was down.

    I will start a thread one day!!!!
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • declanmcc
    declanmcc Posts: 412 Forumite
    Hurrah!
    £13 a month off my mortgage = a trip to the offy to buy loads of beer
  • dadrock
    dadrock Posts: 113 Forumite
    Any bets on which building society/bank will be first?

    Its been so long since a reduction I can't remember the form!
  • swebber
    swebber Posts: 87 Forumite
    Halifax.

    They dropped their SVR the moment it was announced. Good on them. Glad to be a customer.
  • payless
    payless Posts: 6,957 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    It will be interesting to see which lenders pass on the full 0.25% to their customers on the SVR and who uses it to boost profits.

    dadrock wrote:
    Any bets on which building society/bank will be first?

    Its been so long since a reduction I can't remember the form!

    from bbc
    Halifax dropped its standard variable rate to 6.5% immediately after the news -


    Hopefully not many MSErs on SVR, or at least not on any that high -

    of course those currently on fixed rates won't benefit
    those on trackers will - again usually adjusted very quickly
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • MortgageGenie
    MortgageGenie Posts: 135 Forumite
    SVR cuts will also be of interest to anybody on a discounted mortgage linked to their lenders SVR.

    1. Intelligent Finance is passing on the full cut reducing their SVR to 5.7%
    2. First Direct also passing on the full cut reducing their SVR to 5.5%
    I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • cattie
    cattie Posts: 8,844 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    posted by swebber
    << Halifax.

    They dropped their SVR the moment it was announced. Good on them. Glad to be a customer.>>

    Oh, goodie, as an existing customer I'm arranging to remortgage with them as my discounted period ends this month. :)
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • KTF
    KTF Posts: 4,855 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    cattie wrote:
    Oh, goodie, as an existing customer I'm arranging to remortgage with them as my discounted period ends this month. :)
    You are planning to move onto their SVR?
This discussion has been closed.
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