Interest rate at 2% !!

[weloveliam@space]

Damn my fixed rate mortgage Think i'll wait a little then shop around for a new deal

Good time to borrow if they pass it on quickly, and if you can get a mortgage. some belting deals about at the minute.

If anyone fancies a cheap holiday home give us a shout

 

[djchewie]

at a time when Banks are trying to rebuild their balance sheets, expect plenty of heel dragging before you see any savings.

 

[MARKB]

Just managed to agree a tracker on monday at 1.6% above base, i haven't received the paperwork yet though

 

[Emma_1983]

Will this help us trying to get a mortgage?

 

[Emma_1983]

No

Be prepared to leave big deposits (like how it use to be and should be)

Yep at the moment we are preparing to save for 20%

 

[Sirens]

Yep at the moment we are preparing to save for 20%

damn you for being so quick. I was going to write something else

 

[MARKB]

It should make mortgage payments more affordable because it should make the cost of credit cheaper.

But this will depend on how forthcoming the banks are in passing the rates on. Certain banks seem to be happy to tow the government line on these issues, others such as the HSBC seem happy to do what they want.

However it may not help you get your deposit.

 

[puppylover]

it doesnt help your savings if you have a pot tho...

 

[djchewie]

it doesnt help your savings if you have a pot tho...

nope.

it's browns ploy to make you spend what little you have got, to get him out of his mess.

 

[Morbyd]

others such as the HSBC seem happy to do what they want.

Which is why I moved a quarter of my savings to HSBC!

 

[Philly Cent]

Almost unbelievable what the EPC have done in their last 2 meetings!
Wish they had the forsight to take preventative action alot earlier though!

Trackers are winners right now, though the terms have changed! My Business Partner agreed his at 0.45% above base only in May!

My only hope is that the pressure the Gov'n are putting on lending sources does 2 things
a) Make them reduced variable rates
b) sees it possible to get a mortgage soon of more that 75% LTV (loan to value), until that happens the market will stagnate as most people have trouble putting together a 25% deposit!

In the meantime, i'll just wait patiantly til my personal fixed deal runs out, & thankfully my next Buy2Let deal doesn't expire til the summer, and those mortgages are still up at 6%!