Interest Rates down 1.5%
 

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

Re: Interest Rates down 1.5%
 

I'm glad I'm overdrawn ;)

Re: Interest Rates down 1.5%
 

To the borrowers or the lenders??

Re: Interest Rates down 1.5%
 

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.

Re: Interest Rates down 1.5%
 

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!

Re: Interest Rates down 1.5%
 

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 :-)

Re: Interest Rates down 1.5%
 

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.

Re: Interest Rates down 1.5%
 

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

Re: Interest Rates down 1.5%
 

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

Re: Interest Rates down 1.5%
 

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 ********..