BOE rate dropped by 0.5%

[tricky69]

we are now 1.5%

[OzzyR1]

No real surprise there then, will watch with interest what will happen to the £ against the euro.

[anonymous-user]

Leaving another .5% in the next two months? Surely no lower than that........

[trickywoo]

Great - all the idiots who took out debt they couldn't afford are rewarded and the rest of us suffer.

[bigTee]

Depression here we come.

[Skipppy]

Mortgage lenders probably won't pass on this cut.

Savers will get hit no doubt.

Is there really any benefit to todays cut?

[bridgdav]

How much does it realy matter to Joe Bloggs..

The banks don't necessarily pass it on, savers or borrowers.
There are so may deals around at the moment from financial institutions anyway.
The people who have money don't want to spend it
The people who don't monet, have can't borrow anyway.

Edit for Spilling

Edited by bridgdav on Thursday 8th January 12:10

[Soovy]

Buy spam and shotgun cartridges.

[jesusbuiltmycar]

Skipppy said:

Mortgage lenders probably won't pass on this cut.

Savers will get hit no doubt.

Is there really any benefit to todays cut?

Gordon Borwn can continue to claim he is not from a "Do Nothing" party

[Pork]

trickywoo said:

Great - all the idiots who took out debt they couldn't afford are rewarded and the rest of us suffer.

Yep.

to be fair though, its the only way out for the governemt and the banks. Eventually they'll have no choice but to add money to the system which will aid inflation, thus reducing the real cost of the debts assuming wages rise (which will take a while - in the mean time, buckle up for a lot of hurt!).

[anonymous-user]

Skipppy said:

Mortgage lenders probably won't pass on this cut.

Savers will get hit no doubt.

Is there really any benefit to todays cut?

Exactly, all i see is hard earned cash saved making bugger all to pay for dipsts with no idea.

[digger_R]

Skipppy said:

Is there really any benefit to todays cut?

El Gordos quest to save the world continues....

save the cheerleader, save the world or something like that

[bigTee]

i'm buying one of these for when the zombies come.

[Yugguy]

I have a tracker mortgage and no savings.

So fk you all.

(yes, I know it's more complex than that.)

[Pork]

bigTee said:

Depression here we come.

Are you a saver then?

Oh, sorry, thats not what you mean.

[Adenauer]

trickywoo said:

Great - all the idiots who took out debt they couldn't afford are rewarded and the rest of us suffer.

Not those idiots that took it out on a fixed rate though, like myself

Edited: For typo because I'm eating raw fekkin Herring and it's horrible

Edited by Adenauer on Thursday 8th January 12:16

[smack]

Skipppy said:

Mortgage lenders probably won't pass on this cut.

Savers will get hit no doubt.

Is there really any benefit to todays cut?

Yes, foreigners will be able to buy our arses cheaper than last week....

[anonymous-user]

Yugguy said:

I have a tracker mortgage and no savings.

So fk you all.

(yes, I know it's more complex than that.)

Is your lender passing on all the interest rate cuts?

[shirt]

Skipppy said:

Mortgage lenders probably won't pass on this cut.

they will, but they will drag their heels.

i'm on SVR with northern rock, so not a tracker as such but it is capped at a maximum of BOE + 2.39%

n. rock are supposed to be non-competetive now they are in public ownership but they are still passing on the cuts, just taking their time. generally their 'new' rate takes 6-8weeks to filter down to me. i still have december's cut to come, and when today's cut comes through as well, my mortgage will be 3.89%apr - or £300 cheaper than it was in november.

[Yugguy]

el stovey said:

Yugguy said:

I have a tracker mortgage and no savings.

So fk you all.

(yes, I know it's more complex than that.)

Is your lender passing on all the interest rate cuts?

They have done so far.

We are being sensible tho - the interest portion of our monthly payment has gone down by nigh on 300 quid, but we are continuing to pay at the pre-decrease level with the aim of lowering the capital by that much a month.

I am aware though that interest rates seem to be doing fk all - it doesn't matter how cheap mortgages are if no fker can get one.