# Interest Rates cut by 0.5%



## WHIZZER (Oct 25, 2005)

Now down to 1.5 %


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## Ultra (Feb 25, 2006)

that may put a smile on the faces of some mortgage payers


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## Mr Concours (Mar 8, 2006)

Bugger, stuck at 6% for 5 years,might try and renegotiate our mortgage this month.


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## Nickos (Apr 27, 2006)

dennis said:


> that may put a smile on the faces of some mortgage payers


Alot of providers have announced regardless of rate cuts they will not pass it on.

Naturally, savings rates will be cut overnight though....


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## richjohnhughes (Sep 24, 2007)

Nickos said:


> Alot of providers have announced regardless of rate cuts they will not pass it on.
> 
> Naturally, savings rates will be cut overnight though....


bepending on what deal you have got.

mine is a tracker linked to BBR - happy days. like to see them try and not pass it on.


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## richjohnhughes (Sep 24, 2007)

Mr Concours said:


> Bugger, stuck at 6% for 5 years,might try and renegotiate our mortgage this month.


i'm guessing that is going to cost you ALOT of money to try and get out of a 5 year fixed rate.


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## APK (Oct 6, 2008)

Mr Concours said:


> Bugger, stuck at 6% for 5 years,might try and renegotiate our mortgage this month.


Doubt if it is worth it, the deals available now would not be much better, so by the time you have paid the penalty/fees you would be saving very little.


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## dean j (Mar 30, 2007)

It helps me with my mortgage, but i've gotta buy a new clutch from japan. It used to be 900 quid, but now works out nigh on 1500!!! Ups and downs i suppose


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## Deanoecosse (Mar 15, 2007)

richjohnhughes said:


> bepending on what deal you have got.
> 
> mine is a tracker linked to BBR - happy days. like to see them try and not pass it on.


Almost all the banks have now capped their tracker rates and will not drop them any further no matter what the BBR may drop to. Nationwide had previously said they wouldn't cap their trackers, but have now capped them to "protect their savers". So the only people who will benefit are those like myself whose fixed deals have just finished and are happy to go onto the lenders SVR which with Nationwide (who I'm with) is 4% before they introduce the latest .5% cut as they have promised their SVR will "never be more than 2% above the BOE base rate.


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## DE 1981 (Aug 17, 2007)

what is most annoying though is that when the rate starts going up again the lenders will increase there rates accordingly the next day


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## Deano (Jul 7, 2006)

natwest keep phoning me up cos our fixed term (about 5.75%) ran out end of november. we arranged to renew it but didnt return the signed documents! lucky or what! "heloo this is natwest, would you still like the deal given to you in november?" do I bloody hell! SVR is a lot less than that why would i want it!?


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## Deanoecosse (Mar 15, 2007)

From whats been said, it looks like the base rate will be kept very low for the rest of the year aswell:thumb:


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## Guest (Jan 9, 2009)

Banks have been getting greedier and greedier, paying huge bonus's at our expense, and its about time they passed these savings on to hard working people rather than ripping them off. 

There, rant over. 

Can you tell I HATE banks?


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