UK Landlord Forum / Life

It has been said that rates could come down to as low as 2%.  This would be the lowest in over 400 years.
My question for you is:
What do people think the +s and the -s will be if rates went down that far.

I just can not emagine only paying a few hundred on my mortgage, that is a plus.

But the down side, everyone will be able to buy, leaving us LLs in the poo !

I don't agree with your downside, to be honest.

While the Bank of England base rate is dropping, the LIBOR isn't dropping so easily, so mortgage rates are still high. Even after the 1.5% drop, there hasn't been a huge difference in new mortgage products. Moreover, banks are still requiring 25% deposits for BTL mortgages. That's 25k for a 100k property. That's still a lot of money!

Oh, the plus to all this is for current borrowers that aren't on a fixed rate! Fixed rate borrowers must be pretty annoyed at the moment!

I still can't believe me luck, because I came off my fixed rate just as the 1.5% cut was announced! Hopefully today's (hopeful) cut will also pass on!

Now thats what im talking about son,
I always knew NR would be a good lender to stay with, they really havnt got a leg to stand on, they have to pass on the benifits.
I see NR are also classed as part of the big 6 in mortgage terms now aswell !.

Northern Rock being nationalised was a good thing, because now they're more likely to pass on the cuts! Good times, son, good times!

The saving can only mean thing my handsome willy,  i can send you a xmas card xx

With a sextoy inside?

Goes without saying young man