Base rate cut 0.5%

[SallyAnne]

Who does benefit in this? banks?

******* ridicuolous

[swamp]

My mortgage is collar-free tracker-tastic. Boomed!

[Lockhouse]

My mortgage is collar-free tracker-tastic. Boomed!

WHS

[Cyberman]

Who does benefit in this? banks?

******* ridicuolous

They benefit on existing fixed rate mortgages, but they are losing out on a grand scale with trackers as some people are now paying a zero rate.... ie nothing. Thus, banks are not currently offering trackers. Overall, this is bad for the banks.

[BrilloPad]

Who does benefit in this? banks?

******* ridicuolous

Do banks benefit?

Rate they were paying savers was almost zero anyway. I cant see savings or mortgage rates going down : in fact banks will lose to those who have trackers.

[Francko]

Those on fixed rate. No.

Those on SVR, likelyhood no.

Those on tracker, mostly have collar, so no.

AFAIK, only one mortgage is tracker no collar.

So overall, for 99% of people in the UK, they will be no better or even worse off (savers).

Why are you making things that complicated for cyber?

Just say good/bad, interest rates down = good for him and so and so...

Some minds do have some limitations unfortunately, you shouldn't push his boundaries that high to let him consider the 99% of the population if not him.

[Andy2]

are these collar free tracker mortgages still available ?
I will have one

[SallyAnne]

WHS

I benefit form it too....but we must be the teeniest minority of people!

It just doesn't seem fair on others. People are being shafted left, right and center, and they're being made to feel like proper charlies for having the "wrong" mortgage.

It'd just be more beneficial if they took the interest rates off Credit Cards and/or loans. Or made ALL mortgages pass on the interest rate cuts. People shouldn't be penalised.

[Cyberman]

Francko obviously does not have a tracker mortgage.

[DimPrawn]

are these collar free tracker mortgages still available ?
I will have one

Yes, they are. Just pop into your local bank of BS and say "I want an interest free mortgage please."

HTH