Bank of China reassures its tracker passes on rate cuts

Bank of China (UK) has an advert on p.9 of Metro today promoting its Bank Rate + 2.3% lifetime tracker, available up to 75% LTV. If one assesses competitiveness purely on rate and ignores the criteria this rate is market leading for LTVs between 70.01% and 75%.

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Bank of China reassures its tracker passes on rate cuts

Bank of China (UK) has an advert on p.9 of Metro today promoting its Bank Rate + 2.3% lifetime tracker, available up to 75% LTV. If one assesses competitiveness purely on rate and ignores the criteria this rate is market leading for LTVs between 70.01% and 75%.

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Bank of China reassures its tracker passes on rate cuts

Bank of China (UK) has an advert on p.9 of Metro today promoting its Bank Rate + 2.3% lifetime tracker, available up to 75% LTV. If one assesses competitiveness purely on rate and ignores the criteria this rate is market leading for LTVs between 70.01% and 75%.

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Demand for mortgage tracker deals plummet

To promote lower rates from today on a third of its 2 year fixes (those with a maximum LTV of 80%) Santander has put out a press release headlined:

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Can that Really Be True?

To promote lower rates from today on a third of its 2 year fixes (those with a maximum LTV of 80%) Santander has put out a press release headlined “Demand for tracker deals plummets as homeowners look to make fixed rate hay while the base rate shines.”

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Skipton…have they really done that?

The big news today is that the Skipton Building Society has increased its Standard Variable Rate from 3.5% to a staggering 4.95%, at the same time breaking contracts with thousands of their borrowers.

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Skipton…have they really done that?

The big news today is that the Skipton Building Society has increased its Standard Variable Rate from 3.5% to a staggering 4.95%, at the same time breaking contracts with thousands of their borrowers.  They had promised never to have an SVR that was more than 3% above bank rate ( currently 0.5%) so they have driven a coach and horses through that one.  Borrowers with a Skipton mortgage should get in contact soon and see what their options are.  Moving away form Skipton is likely to be top of the tree...

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4 out of 5 mortgages bought in December were variable rates

Variable rate mortgages accounted for more than four in every five (80.9%) home loans arranged by John Charcol in the last month of 2009. The John Charcol Index revealed that the proportion of fixed rates has fallen below 20% for the first time since August 2008. Click here for full details

4 out of 5 mortgages bought in December were variable rates

Variable rate mortgages accounted for more than four in every five (80.9%) home loans arranged by John Charcol in the last month of 2009.  The John Charcol Index revealed that the proportion of fixed rates has fallen below 20% for the first time since August 2008. Click here for full details

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Inflation rise above expectations…what now for bank rate?

There is a possibility that interest rates could rise sooner than expected after the latest inflation figures showed a larger than anticipated rise to 2.9% in December.  Some of the increase can be attributed to VAT being lower this time last year, but clearly not all of it.

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