Interest Rates down 1.5%

[Gazza77]

And LloydsTSB promise to pass it on. Woohoo. :)

[Tris]

And LloydsTSB promise to pass it on. Woohoo. :)


I'm glad I'm overdrawn ;)

[punyXpress]

And LloydsTSB promise to pass it on. Woohoo. :)
To the borrowers or the lenders??

[Luckypants]

Blimey that is some rate cut! I suspect that the banks will not pass it on in full. For instance Abbey put UP their mortgage rate two days ago, to increase their profit margin but still customers will see no change as this rate cut was widely anticipated.

[Gazza77]

Blimey that is some rate cut! I suspect that the banks will not pass it on in full. For instance Abbey put UP their mortgage rate two days ago, to increase their profit margin but still customers will see no change as this rate cut was widely anticipated.

I suspect the same in general, but LloydsTSB (C&G) had already announced that they would pass it on in full in reducing their variable rate.

http://news.bbc.co.uk/1/hi/business/7713006.stm

My mortage is in 4 parts (2 fixed, a tracker & svr), so with a reduction on the svr & tracker, that's us £80 a month better off in two months due to rate cuts. Hope it is getting passed on to new deals too by the time we remortgage towards the end of next year!

[dizzyblonde]

I've not done too bad mortgage wise..ever. Just been a complete fluke that I've signed up on some pretty amazing deals.....and now if they pass on this rate cut, well, lets just say I'll br laughing, and not for the first time :-)

[krhall]

I came off my fixed 4.79% rate a few months back and was being offered "great deals" for 6.5%, but I decided to wait and just go on the standard variable. I am happy as a pig in poo right now that I waited.

[timwilky]

Does not directly affect me as I do not have a mortgage. But I guess I will get even less interest on my savings.

[injury_ian]

WOOP WOOP!! At this rate my mortgage will be paid off by thursday week!

[454697819]

i am waiting to apply for my new mortgage, however do I actually think they will pass it on enough to make a difference.. will they ********..

[jimmy__riddle]

I came off my fixed 4.79% rate a few months back and was being offered "great deals" for 6.5%, but I decided to wait and just go on the standard variable. I am happy as a pig in poo right now that I waited.


me too!

[injury_ian]

current rate for me is 3.17% oh-yeah, woop woop *dancing rounf the room*

[Viney]

Does not directly affect me as I do not have a mortgage. But I guess I will get even less interest on my savings.You have Savings!!! Crikey. They must be stuffed under the matteress

I have no debt(Well none that i pay interest on), no savings, no morgage, no pension, none of this affects me in the slightest otehr than stuff going up in price.

[dizzyblonde]

I came off my fixed 4.79% rate a few months back and was being offered "great deals" for 6.5%, but I decided to wait and just go on the standard variable. I am happy as a pig in poo right now that I waited.

exactly what I did. The rate I'd been on prior was one fixed at whatever the lowest ever mortgage rate was, at the beginning of house prices rising, which was something around half of what they tried offering me this time.

So sometimes it pays to sit patiently and wait. Glad I did now, so I'll be waiting for the second reduction in as many months.....mwhahaha

[Paul the 6th]

thank god I just took out a 5 year fixed 2 months ago - 6.34% till 2013 for me. Oh well.

[Tim in Belgium]

Just went on to a base rate tracker, so good for me, although rates can go up as well as down.....

[fizzwheel]

I'm quite shocked thats a big drop.

I came off fixed a couple of months ago and went onto variable. I decided I'd stay on variable whilst I watched what the market was doing. I'm quite glad I did now.

[Biker Biggles]

Short term good news for many,but it smacks of desperation to me.What do they know that we havnt been told yet?

[Gazza77]

Another 1% off today and once again LloydsTSB (C&G) promise to pass it on in full. Nice little Christmas present really, that's now about £130 a month less I'm paying than I was a few months ago. :cool:

[Stu]

And LloydsTSB promise to pass it on. Woohoo. :)
I'm going to come round & beat you!
You nearly gave me a heart attack. It's only 1% get yer facts right.
:D

Would a MOD please change the title

[krhall]

Haven't heard from Nationwide yet?

[krhall]

I'm going to come round & beat you!
You nearly gave me a heart attack. It's only 1% get yer facts right.
:D

Would a MOD please change the title

This is an old thread from when the rates were cut by 1.5%

[jimmy__riddle]

I'm going to come round & beat you!
You nearly gave me a heart attack. It's only 1% get yer facts right.
:D

Would a MOD please change the title

look at the date, it WAS 1.5%

[Stu]

Oh I see what you've done :roll:
still going to beat you ;) I'm just about to buy my holiday money & I don't want Sterling falling off a cliff.
Still the mortgage will soon be free :thumbsup:

[Biker Biggles]

Short term good news for many,but it smacks of desperation to me.What do they know that we havnt been told yet?

Even more desperate measures.This country is in deep **** and I wouldnt be surprised to see us in "special measures" under the cosh of the International Monetry Fund in a year or so.See where interest rates go then.I intend to pay off as much debt as possible in the mean time by reducing my mortgage to near zero if I can.

[carty]

I wouldnt be surprised to see us in "special measures" under the cosh of the International Monetry Fund in a year or so.See where interest rates go then.

Exactly. I would suggest that those who are benefitting from this short-term rate-cut put the money in to a savings account ready for when the rates go sky-high again. That way it won't be so difficult to find the extra you'll need in the future.

You have been warned.

:takeabow: