Boe

[Bagpuss]

wonderfull news

a/ savings rates will be crap
b/ Shares are fooked
c. Housing market is knackered
d. £1 soon to equal 1 euro and 1 dollar

But good news I can probably get a mortgage 0.5 -0.75 points cheaper on a depreciating asset.

[chef]

wonderfull news

d. £1 soon to equal 1 euro and 1 dollar

great news indeed, im paid in euro's woohooo

[AtW]

I doubt lenders will pass it, even for "trackers" - many lenders have got some exclusions for that in small print that nobody reads.

[Bagpuss]

I doubt lenders will pass it, even for "trackers" - many lenders have got some exclusions for that in small print that nobody reads.

they will knock it off the savings rates though. Credit boom, the new socialism, i.e. lend to those who have nothing at the detriment of those who have

great news indeed, im paid in euro's woohooo

Yep, good move you made there!

[Mich the Tester]

The ECB has followed suit, but of course the bastard bankers who’ve been paid quazillions of pounds while fooking up the world’s economy won’t pass these cuts on to borrowers; they’d rather stick to what they know, hoarding other people’s cash for their own bonuses and fooking up healthy businesses by cutting credit lines.

[gingerjedi]

I doubt lenders will pass it, even for "trackers" - many lenders have got some exclusions for that in small print that nobody reads.

A 'tracker' is designed to 'track' the BoE base rate, how could a lender say otherwise?

Nationwide has a clause where their tracker won’t fall below 2.75% but we're not quite there yet.

[Bagpuss]

A 'tracker' is designed to 'track' the BoE base rate, how could a lender say otherwise?

Nationwide has a clause where their tracker won’t fall below 2.75% but we're not quite there yet.

and the TSB one won't be any worse than 2% above BOE so probably going to be 5%. Marvelous!

[ace00]

FTSE 100: 4,391.63* -139.10 (-3.07%)

Oh well. Nice try.

[BrilloPad]

FTSE 100: 4,391.63* -139.10 (-3.07%)

Oh well. Nice try.

Well if the banks wont cut mortgages by 150bps - what do you expect?

[ace00]

Well if the banks wont cut mortgages by 150bps - what do you expect?

I expect rate cuts to give a boost to equity values regardless of the state of the local housing market.