Will lenders pass on next months rate cut

[Hoppy2008]

..assuming there is one.
Will lenders that have passed on the full 0.5 & 1.5% cuts pass the new one on too?
Im talking SVR here.

cheers

Hoppy

[scotal]

They will certianly be under pressure to.
My bet is that HBOS and LLoyds will cut almost as soon as the MPC decision is announced, and the politicians will be baying for cuts from the other banks about 5 minutes after that.

[unclemark123]

i sincerley hope so ! svr here x 2

[tricky69]

by all accounts the government has stepped in and said pass the rates on or we will move in and do it for you...

after all whats the point on lowering rates if the banks don't lower theirs... apart from killing cable !

[bigTee]

shouldn't have passed on the last one IMO.

[JayBM]

I'm sure even if some of the banks do the delightful Chelsea will continue to bury their head in the sand.

[uriel]

JayBM said:

I'm sure even if some of the banks do the delightful Chelsea will continue to bury their head in the sand.

I just saw my mortgage advisor on Tuesday as my fixed rate with The Chelsea is coming to an end and he's advising I go onto their SVR and wait a while until something good comes along. He says that from Dec 1st, Chelsea are dropping SVR to 5%, but I can't see anything about it on their website.

Edited by uriel on Thursday 27th November 11:13

[scotal]

uriel said:

JayBM said:

I'm sure even if some of the banks do the delightful Chelsea will continue to bury their head in the sand.

I've just saw my mortgage advisor on Tuesday as my fixed rate with The Chelsea is coming to an end and he's advising I go onto their SVR and wait a while until something good comes along. He says that from Dec 1st, Chelsea are dropping SVR to 5%, but I can't see anything about it on their website.

This is the last thing I saw regarding Chelsea

"Chelsea BS will reduce its SVR to 6.94% with effect from 1st December and to 5.79% with effect from 31st December."

[satans worm]

Anyone know what Skipton SVR is, from what I understand they have not passed on the 1.5 as yet??

[Olf]

In a previous thread someone posted a link to a live updated table of lenders and current commitment to rate reduction. I can't find it no though.

[JayBM]

I'm in the exact same position as you uriel (albeit mine ended 2 months ago)......and from what scotal has just posted it looks like we are both in luck!

[johnfm]

I expect my bank will tell me to fk off if I ask about passing on the cut. THey borrow at LIBOR, and charge me at BoE base rate + margin.

I just had email requesting a meeting. I sense (another) rape.

[rude-boy]

They will pass on any cut in interest rates instantly.





For savers!

[Hoppy2008]

rude-boy said:

They will pass on any cut in interest rates instantly.





For savers!

yeah....the s

[scotal]

JayBM said:

I'm in the exact same position as you uriel (albeit mine ended 2 months ago)......and from what scotal has just posted it looks like we are both in luck!

yeah, but no but......

Other lenders have SVRs of 4.69% from 1st dec.

[phil1979]

Does anyone know where HSBC's SVR is sitting at currently?

[scotal]

phil1979 said:

Does anyone know where HSBC's SVR is sitting at currently?

5.44% from 5th dec

eta, First Directs SVR is different.

Edited by scotal on Thursday 27th November 11:41

[Hoppy2008]

scotal said:

JayBM said:

I'm in the exact same position as you uriel (albeit mine ended 2 months ago)......and from what scotal has just posted it looks like we are both in luck!

yeah, but no but......

Other lenders have SVRs of 4.69% from 1st dec.

My mortgage express are 4.79 from Dec

[scotal]

Hoppy2008 said:

scotal said:

JayBM said:

I'm in the exact same position as you uriel (albeit mine ended 2 months ago)......and from what scotal has just posted it looks like we are both in luck!

yeah, but no but......

Other lenders have SVRs of 4.69% from 1st dec.

My mortgage express are 4.79 from Dec

Lifetime trackers? I have a couple of clients on those at the moment.

For those of you thinking of swithching, I saw the first half decent rate reductions in 5 year this morning, not brilliant, but its a start.

[phil1979]

scotal said:

phil1979 said:

Does anyone know where HSBC's SVR is sitting at currently?

5.44% from 5th dec

Thanks Scotal. I take it you're the in-house mortgage man? If so, can I pose a couple of Q's on here for your attention?