CliveH Posted October 3, 2011 Share Posted October 3, 2011 BoE is considering a further rate cut to just 0.25% from its historic low of 0.5%. Not good for savers. May be good news for borrowers and business. http://www.investmentweek.co.uk/investment-week/news/2113736/boe-mulls-rate-cut-025 Link to comment Share on other sites More sharing options...
antony1969 Posted October 3, 2011 Share Posted October 3, 2011 Bring it on , a couple of tracker mortgages . Yippee , happy times . Link to comment Share on other sites More sharing options...
CliveH Posted October 3, 2011 Author Share Posted October 3, 2011 Hope it is good for you Anthony - but do watch out as many tracker mortgages have a set lower limit after which a "collar" rate applies. In other words if the collar rate is 1% then it does not matter what the base rate is below 1% - 1% is what you will pay. Still good overall but I would hate to get your hopes up.......................................... :-S On the other hand if you do have a true tracker that links to the base rate - then well done for getting a good deal. Because I can say for certain that those lenders caught out by rates so low they were thought impossible just a few short years ago, will not let such contracts out into the light of day in the forseeable future!! >:-( Link to comment Share on other sites More sharing options...
bob b Posted October 3, 2011 Share Posted October 3, 2011 A couple of years ago I moved my nest egg into an offset saving account with my building society. It pays a fixed rate of 4.69% until 30/06/2014. As things turned out I'm rather pleased that I did. Quite what the situation will be in 2014 God only knows. Link to comment Share on other sites More sharing options...
Guest Peter James Posted October 6, 2011 Share Posted October 6, 2011 I expect a rate cut or more money printing soon to reinflate house prices, and con people into thinking all is well again *-) The only serious spending cuts they have got away with are to benefit claimants, but that won't save nearly enough, and will probably be offset by an increase in crime. The government has got hooked on inflation because its the only stealth tax they can get away with now. It amazed me to see civil servants taking to the street to protest about a 2% cut in their pension contributions, whilst ignoring inflation which is robbing us of about 4 times that amount every year. Link to comment Share on other sites More sharing options...
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