UK Landlord Forum / Life

Interest rates could fall in coming months, the Bank of England has signalled on Wednesday.

Source: http://news.bbc.co.uk/1/hi/business/7094208.stm

I wonder if mortgage lenders will also drop their variable rate for mortgage borrowers? What do you think? Obviously people with tracker mortgages would benefit- but i'm not so sure if people on normal variable rate mortgages will

Yes it will happen to bring back some feel good factor, unfortunitly inflation will go up to act as a ballance.

I need to remortgage soon, so hopefully they'll drop by quite a bit! Pray for me!

i always do my son i always do. dont RAGE buddy you will not thank yourself in the long run

RAGE?



Don't forget boys and girls, mortgage rates are dictated as much by the inter-bank lending rate as they are by the BOE rate.

But yes, lower interest rate would be nice - moreso for market buoyancy and possible equity growth than monthly cash flow.


V

Remortgage my little bundle of happyness.
By the way i almost hit a car on my moterbike outside the said church when i was younger !

More news on it today:

Bank of England hints at interest rate cuts...

Home owners are likely to see their mortgage bills slashed next year after the Bank of England indicated that it is primed to substantially cut interest rates.

With the British economy struggling to cope with the impact of the credit crunch, rates could be cut as many as three times from the current 5.75 per cent, it indicated.

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/11/15/nbanks115.xml

QuoteIf the Bank cuts rates three times to 5 per cent, the average mortgage payment would shrink to £583.34, saving home owners a potential £750 over a year.

Is anyone else a little excited?

Please please please dont get to excited, yes the news is good for the home ownder with a mortgage, but and a BIG BUT the government as you know will take from peter and give to paul,  The reason for the cut is to make us think that we are no longer being hard done by from the system plus also trying to stabalise the economy.  But on the bigger picture we are still paying through the nose on other things that are over inflated like fuel.  What we will save on our mortgages will go on something else, the banks and goffers will alway be the winners, they are like casinos.
But yes its nice to see a cut somewhere from time to time.

Don't piss on my parade, Badgey!

LOL sorry buddy, just keeping it real.
It is nice though faggsa when the mortgage payment is in fact less then the rental income !, but then the freaking tax man takes it as capital gains, fukc this man i gonna get out the rat race lol