1.5%

[AndyP & Lenore]

Holy SH!T:eek:

Didn't expect that cut.:Whistle:

And it comes just as our current fixed rate ends and we're due to take out another fixed rate. I'm of a mind to try and fix it for the last 10 years of our mortgage if we can.

A.:yes nod:

[Gismo]

Nice one :thumbs up:

[euan]

No, I thought they'd be doing well to drop it by 1%, I think 1.5% took everyone by surprise.

Our fixed rate ran out in January. We took a risk and went for a tracker, so our mortgage has dropped considerably in recent months which is a welcome relief.

We were talking about this today in the car to work, but if I'd stopped listening to the news in January, would I actually have noticed the credit crunch? Think about it - What's changed? not a lot other than petrol fluctuations (same as every year), cost of living hasn't changed vastly that we've noticed yet as we have a very efficient boiler so our energy bills aren't massive anyway, and our mortgage has gone down considerably! Shopping is much the same as ever as we pay it our of a joint account and the amount that is left every months is the same as it was before.

Would you have noticed?

(BTW - sorry if you see this as a hijack, if so please move to a new thread!)

[Craig]

yeah, I think this surprised everyone... :thud:

I always do a fixed rate as I like to know what is going out every month.. I got a good deal back in March when our 5 year deal was up, so can't complain. I would have hated to have taken a gamble and then been left paying £150 per month more for my mortgage.

At least I know I can afford my mortgage and it will not go up for the next 5 years. The downside is it won't go back down, but that's the only downside. ;)

[The Dogfather]

Erm, most lenders won't pass this on as the interbank rate is still sky high.

[Scottie]

a drop in interest rates is not good for us savers.:ragin:

[KenL]

a drop in interest rates is not good for us savers.:ragin:

I know, but at least you have money to save ;)

[AndyP & Lenore]

Erm, most lenders won't pass this on as the interbank rate is still sky high.

Our mortgage providers (Lloyds TSB) have already said they will pass this on:thumbs up:. But I've no doubt they'll sting us with an "arrangement fee" when we renew.:ragin:

A.:D

[AndyP & Lenore]

a drop in interest rates is not good for us savers.:ragin:

Sadly Fi, for the majority of "Joe Bloggs" (including L & I), we borrow waaaaay more than we save.:hand:

A.:D

[Scottie]

Sadly Fi, for the majority of "Joe Bloggs" (including L & I), we borrow waaaaay more than we save.:hand:

A.:D



It's good if the banks pass it on to lenders,bad for exchange rates.
It's a step in the right direction I suppose for business.

It will help towards people trying to get a mortgage and start house buying again, but thats where half of todays problems stem from:confused:

I know plenty people now retired who have savings and rely on the income from their savings to prop up their pension.

[illegalhunter]

I managed to get my rate @.34% of BOE base rate for the full term of loan . So mine will go down £27 a month. Only 7 years 8 months to go

[Craig]

I managed to get my rate @.34% of BOE base rate for the full term of loan . So mine will go down £27 a month. Only 7 years 8 months to go

christ John, you must be REALLLLY old :moonie::thud::Whistle:;bigwave: