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[stuart30]

Phoned Northern rock too pay this months mortgage and was told by a very nice lady that although they have just dropped there rate there dropping it again in February.

She said it wasn't common knowledge yet but letters will be out in the post soon...

Oh its for there standard variable rate.

[Vamps]

Halifax have dropped mine again and seemingly some deal I have with them changes in February and I get another cut Currently the 'Credit Crunch' has saved me around £150 a month excluding petrol savings at about £80.00 between the two of us.

[stuart30]

Halifax have dropped mine again and seemingly some deal I have with them changes in February and I get another cut Currently the 'Credit Crunch' has saved me around £150 a month excluding petrol savings at about £80.00 between the two of us.

Well my fixed rate repayment was £701 monthly....after the fixed deal ended would have jumped too £900 plus.

Went intrest only at £725 and as of today £547...March looking at £503...April sub £500.

So over all im bloody chuffed....

[Vamps]

So is the rate coming down again then?

[stuart30]

So is the rate coming down again then?

According too the bird on the phone yes....

Being a ""Together customer"" any rate change takes effect one month after the actual change.

Although i did hear about a rate drop of quarter of 1% which the banks refused too pass on...dear old northern rock don't have much say in the matter by the looks of it.


Looks like come april it will be 5.08%.....ok thats not great but considering i was on 7.68% i believe thats a good difference.
http://www.execdigital.co.uk/Northern-Rock-cuts-variable-rate_12605.aspx

[Lazydocker]

We've been lucky really... We're with Birmingham Midshires and on a Base Rate Tracker... So far, as of next months payment, we've saved about £265, with a further 0.5% cut to come into effect for the March Payment

[Elite Pete]

If I wasn't on a fixed rate, I would take the opportunity to make hay while the sun shines and keep paying the same amount as before the interest rate cut

[Jay w]

So is the rate coming down again then?

According too the bird on the phone yes....

Being a ""Together customer"" any rate change takes effect one month after the actual change.

Although i did hear about a rate drop of quarter of 1% which the banks refused too pass on...dear old northern rock don't have much say in the matter by the looks of it.


Looks like come april it will be 5.08%.....ok thats not great but considering i was on 7.68% i believe thats a good difference.
http://www.execdigital.co.uk/Northern-Rock-cuts-variable-rate_12605.aspx

bloooody hell  

i'm with Bristol and west, they have dropped their rate every time the BOE have and i am now on 3.56% on their SVR

My payments are £315 a month and currently i am chucking nearly £800 at them a montn

[Lazydocker]

If I wasn't on a fixed rate, I would take the opportunity to make hay while the sun shines and keep paying the same amount as before the interest rate cut

So would I if I wasn't in a penalty period and would, therefore, ge stung for overpayment! First thing I checked when the rates first started dropping
Don't worry though... After we've paid the few little bits we've got left to pay we'll be saving about the difference in mortgage payments for a nice little lump sum

[Lazydocker]

So is the rate coming down again then?

According too the bird on the phone yes....

Being a ""Together customer"" any rate change takes effect one month after the actual change.

Although i did hear about a rate drop of quarter of 1% which the banks refused too pass on...dear old northern rock don't have much say in the matter by the looks of it.


Looks like come april it will be 5.08%.....ok thats not great but considering i was on 7.68% i believe thats a good difference.
http://www.execdigital.co.uk/Northern-Rock-cuts-variable-rate_12605.aspx

bloooody hell  

i'm with Bristol and west, they have dropped their rate every time the BOE have and i am now on 3.56% on their SVR

My payments are £315 a month and currently i am chucking nearly £800 at them a montn

You'll notice the difference when the next statement comes in then

[stuart30]

So is the rate coming down again then?

According too the bird on the phone yes....

Being a ""Together customer"" any rate change takes effect one month after the actual change.

Although i did hear about a rate drop of quarter of 1% which the banks refused too pass on...dear old northern rock don't have much say in the matter by the looks of it.


Looks like come april it will be 5.08%.....ok thats not great but considering i was on 7.68% i believe thats a good difference.
http://www.execdigital.co.uk/Northern-Rock-cuts-variable-rate_12605.aspx

bloooody hell  

i'm with Bristol and west, they have dropped their rate every time the BOE have and i am now on 3.56% on their SVR

My payments are £315 a month and currently i am chucking nearly £800 at them a montn

Well considering im stuck with Northern rock (reclaiming bank charges has royally screwed my credit worthiness)...and cant get a main stream lender too touch me so im chuffed,could have easily gone the other way.

Im assuming being on an interest only its pointless over paying...can over pay as much as i want,guess it might be worth going back on a repayment jobbie. :-/

[Lazydocker]

So is the rate coming down again then?

According too the bird on the phone yes....

Being a ""Together customer"" any rate change takes effect one month after the actual change.

Although i did hear about a rate drop of quarter of 1% which the banks refused too pass on...dear old northern rock don't have much say in the matter by the looks of it.


Looks like come april it will be 5.08%.....ok thats not great but considering i was on 7.68% i believe thats a good difference.
http://www.execdigital.co.uk/Northern-Rock-cuts-variable-rate_12605.aspx

bloooody hell  

i'm with Bristol and west, they have dropped their rate every time the BOE have and i am now on 3.56% on their SVR

My payments are £315 a month and currently i am chucking nearly £800 at them a montn

Well considering im stuck with Northern rock (reclaiming bank charges has royally screwed my credit worthiness)...and cant get a main stream lender too touch me so im chuffed,could have easily gone the other way.

Im assuming being on an interest only its pointless over paying...can over pay as much as i want,guess it might be worth going back on a repayment jobbie. :-/

Check with them... I'd have thought you could overpay and reduce the loan :-? :-?

[philhoward]

My fixed rate mortgage finished over 5 years ago (at 7.95%), but have kept paying the same amount as i did before...Currently paying 50% over the odds, so should see the years roll off soon I hope!  First 4 years of "overpayment" paid off the "indemnity charge" they slapped me with  

[Kevin Wood]

I paid a lump sum off my mortgage a couple of months before interest rates hit rock bottom and wish I hadn't. The money would have done much better in a fixed term bond. It doesn't save much to pay off debts when the interest is this low. Can always chuck it back at the mortgage when the rates go up again.

Kevin