Discussion in 'Business Discussions' started by stender, Nov 6, 2008.
and im fixed for 10 years!
I am on a tracker so great news, expected up to 1% but not 1.5, amazing!
Then again yet to see what the banks will do. Abbey put theirs up 0.5% yesterday.
Let's hope it stays this way for another year, when I'm due to remortgage
Shock move really - I"m quite speechless!
LLoyds have said they'll pass on the full drop to their variable rate payers.
On a £100k mortgage, the rate drop will save someone approx £70 a month, so those who might not be tied to their provider will vote with their feet to save that sort of money - I know I would...
I'm not sure how it works, but can't you pay a fee to break a fixed-rate mortgage deal and remortgage lower? Just curious...
Saw it coming, locked in all my savings at 7.00% and picked up dividends greater than 7%. Was a little surprised by 1.5%, 1% fine could see that!
Exactly the same here - on a tracker and surprised at that level of cut
In most cases yes, it's called an Early Redemption Penalty. However, it usually equates to the amount of interest they would've got if you'd been on their standard mortgage for the term.
I.e. I'm on around 5.3% fixed for three years. I've got another year left. If I cancel now, I'll be charged the interest on the standard rate which I think is around 7.2%. In any case, the charge to cancel is in the £x,xxx. So I'll be waiting till my fixed rate runs out
I think they said that before the cut! bet they're kicking themselves!
Im nearly 2 years into a 10 year fixed at 5.18
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