The cost of borrowing money in the UK has hit an all time low and is nearly free. The BoE dropped interest rates to a record low of 0.5% today. Sadly this isn't quite as good as it sounds. The drop doesn't really help many people as most of the banks aren't passing this on in reductions in mortgages and …
Woohooo!!! The Bank of England decided to lop off another whole 1% off the base interest rates taking them down to a level not seen since 1951. Now all we need is for Nationwide to pass on the whole 1% cut, even to those with collared tracker mortgages like Claire and I have.
I've nearly had a heart attack. I've just learnt that the Bank of England have slashed 1.5% off the UK interest rates bringing them down to 3% - the lowest since 1955. Crap for your savings, but brilliant if you've got a tracker mortgage like Claire and me.
Ok, the title is a little bit off the mark and is more of a tenuous prediction than fact at the moment, but hear me out.
As you may have heard, Northern Rock is having a bit of a problem convincing its customers that it's NOT going bust. This comes after the BBC reported that Northern Rock had approached the Bank…
Yippeee!!!! After a year at 4.75%, the Bank of England has lowered the base interest rate to 4.50%. Now we've just got to wait for the letter from our mortgage lender to say they've dropped their rate too.
