sans

Bank of England have today dropped the Interest rates by 1.5% today, its now 3%.
Nat West and Lloyds have followed already, they are not sure how many others will follow.
The government are saying they want all the banks to pass on the rate cut .......But it would seem some arn't taking any notice.

dingbat

Just need to get someone to give us a mortgage after a few months back and we'd be set!

Elaine B.

I think that's the biggest problem I'm still saving my deposit money. So have you got flights booked yet?

sans

I know a man haha that can sort you one You still coming ????

Nu-Shooz

That is so low...it is good for us buyers, but i am still worried about the whole recession thing.

dingbat

Oh yes - still coming. Waiting for a letter from Donnie Council as we speak, hopefully confirming my placement. Realtor told us not to list our house until that other next door sold - guess what, still up for sale. Flights not booked yet Elaine - I am watching and waiting for the gouging so and so's called Air Canada to take off the fuel surcharges. It makes about $4,000 difference on the fares for us lot!

sans

Have you tried Air Transat, they are carrying dogs as cargo again now.......???

sans

I think its a worry everywhere tho And the UK have been their before.....

sans

I have just had a phone call from the shippers in the UK and my stuff has been cleared by customs Yay!!! And will be delivered next thursday, exactly 20 wks and 2 days after it was packed and left my house in Canada :curse:

islandergirl

I am getting a bit worried too about the recession, though I have noticed that houses I looked at a few months ago are still on the internet.

Prices have not dropped that dramatically(Glasgow), more like a few thousand, which doesn't help when the AUD is now so low against GBP.

This might help to get people out buying again, and the banks lending the money.

Kath & Graham

People up in arms here in UK at mo as the building socities arnt budging on dropping interest rates at mo to help get things going again!

sans

Dont know about Glasgow but round where i live i'm seeing afew houses drop as much as 50k and still open to offers. And in the last 2/3 wks their seems to be quite afew houses with the sold sticker on........

sans

Northern Rock and the Abbey have said they will pass the cut on today....Unfortunately i have just signed up for a 2 yr fixed with Abbey

dunroving

The asking prices for Glasgow houses on Rightmove are similar to the last 12-18 months. However, the "offers over" margin has come down so now they seem to be selling for only 10%-15% over the asking price, whereas previously they were 25%-30%. I think it's also very regional - some parts of Glasgow the prices are holding up pretty well, other parts they are dropping.

islandergirl

Kath the Aussie banks are not passing on a good chunk of the cuts here either, and they had given us extra rises in the past 12 months on top of the RBA increases so there is a much bigger margin now between the RBA rates and the retail bank rates than when you left Aus.