This is good news...I only wish I hadn't taken out a fixed rate  mortgage which is about to complete in next couple of days!

I'm now tied into that till 2010!

Any new mortgage I take will look at trackers -when I was looking a couple of months ago nothing was suitable to my needs at the time.

Will be looking at what deals come out and to see when lenders pass on the base rate cut next month?

 

It is about time too!!!! I am so happy that all my clients who were advised to take trackers are going to start benefiting. This cut is long overdue as inflation has been below the required mark for a few months now. Now we will see tracker products rising and lower fixed rates being offered, do not jump on the fixed bandwagon yet as there are more rate drops predicted. There is a blinding tracker rate now being offered by Gmac which is 0.14 above base rate for 2 years up to 85% LTV with free val and legals with a 595 arr.fee. I'm not advertising but it is a cracker, see your brokers for this product as it is intermediary based only.

What does the Bank of England's 0.25% base rate cut mean for mortgage borrowers and savers? Moneysupermarket.com Editor Nic Cicutti takes a look...click here.

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