Reply to: 0% interest

[SallyAnne]

Mine is interest only too.

But how your interest rate determined?

Is it fixed, standard variable, tracker, discount etc??

It's just a normal variable rate one - not a tracker or anything. Whatever Barclays standard mortgage interest rate is.

[Iron Condor]

Nope - interest only mortgage for me.

Mine is interest only too.

But how your interest rate determined?

Is it fixed, standard variable, tracker, discount etc??

[SallyAnne]

I thought you had a base rate tracker like me.

Nope - interest only mortgage for me.

[Doggy Styles]

No Bank will offer 0% mortgages or 0.5% for that matter. Many aren't even passing on the latest 1 % cut because they want to recapitalise

must

WHS. If Brown makes them pass it on to house-buyers we really are fooked. Savers will go elsewhere, and there's less money coming in from borrowers' interest.

[Iron Condor]

They have to as this thread implied it and now I'm excited!!

I thought you had a base rate tracker like me.

The Banks has to cut my rate down to 0.5%, if rates got to 0%, as there is no collar in my mortage T&C.

Some people have shorter term 'base rate - x%' mortgages. They will be paying 0% as rates cant go negative, although there was an article in the daily mail recently that some mortgage holders could try sueing the banks for a negative interest rate!

[expat]

No Bank will offer 0% mortgages or 0.5% for that matter. Many aren't even passing on the latest 1 % cut because they want to recapitalise

That's for sure. I'm on a discounted SVR mortgage with Standard Life. They are passing on about 1.5% of the 5% from recent cuts.

[SallyAnne]

No Bank will offer 0% mortgages or 0.5% for that matter. Many aren't even passing on the latest 1 % cut because they want to recapitalise

They have to as this thread implied it and now I'm excited!!

[expat]

If you can miss your money for 5 years, put your savings in Rabobank at 4.5% in euros; if there’s deflation you’ll do quite nicely. It’s also possibly the safest bank in the world, with almost no exposure to US mortgage tuliptyness, no shareholders (it’s a cooperative owned by it's account holders) and it’s guaranteed by the Dutch state, which, unlike Gordon’s bunch of fools, still has a very good credit rating.

www.rabobank.com

ps, no I don’t work for them but I do bank with them; if you’re genuinely concerned then they’re a trustworthy bunch.

Don't seem to be able to find an offering for those living in the UK.....

[expat]

Quite a few, yes. They're hiring too.

Well, I left a contract there recently, so they'll be looking for at least 2 people

[Mich the Tester]

I bet loads of people here have contracted with them....

Quite a few, yes. They're hiring too.

[expat]

If you can miss your money for 5 years, put your savings in Rabobank at 4.5% in euros; if there’s deflation you’ll do quite nicely. It’s also possibly the safest bank in the world, with almost no exposure to US mortgage tuliptyness, no shareholders (it’s a cooperative owned by it's account holders) and it’s guaranteed by the Dutch state, which, unlike Gordon’s bunch of fools, still has a very good credit rating.

www.rabobank.com

ps, no I don’t work for them but I do bank with them; if you’re genuinely concerned then they’re a trustworthy bunch.

I bet loads of people here have contracted with them....

[Mich the Tester]

If you can miss your money for 5 years, put your savings in Rabobank at 4.5% in euros; if there’s deflation you’ll do quite nicely. It’s also possibly the safest bank in the world, with almost no exposure to US mortgage tuliptyness, no shareholders (it’s a cooperative owned by it's account holders) and it’s guaranteed by the Dutch state, which, unlike Gordon’s bunch of fools, still has a very good credit rating.

www.rabobank.com

ps, no I don’t work for them but I do bank with them; if you’re genuinely concerned then they’re a trustworthy bunch.

[Bagpuss]

Wooohooo - free mortgage!!!!!

All our spare cash wil be going on paying £2k off the house every month, and these will forever be know as "the best of times"

No Bank will offer 0% mortgages or 0.5% for that matter. Many aren't even passing on the latest 1 % cut because they want to recapitalise

[BrilloPad]

WHS.

No one remembers what deflation is like (apart from the Japanese...) because it hasn't been around since 1939...

But you remember it dont you?

Is it true that on your birth certificate your parents are called Joseph and Mary?

[Purple Dalek]

Result!! My mortgage is up late next year, it remains to be seen what I can get but I want a long term repayment mortgage at a cheap rate.

Even SVR will be less than my present fixed rate...

BOOMED I tell yer!!

I wouldn't wait too long to swap to a fixed rate.

Also make sure the fixed rate is really fixed. Not one of these, it's fixed but if the base rate passes X you're right back on a variable. Look for something with 25 year bonds (in McDs) behind it or some such.

With the current incumbent bunch of clowns hyper-inflation is soon to come blasting through.