ECB down to 2.5%
- Thread starter Gmac
- Start date
for variable punters
AIB have led the way by informing the media that they will pass the cuts on the morning of the ECB meeting...they havnt followed suit this time which doesnt really bode well for them to be passed on....hope im wrong
Luckycharm
Registered User
- Messages
- 540
Excellent I wonder how long before UB pass this one on- what date is it affective from?
You'll have had your Christmas pud before UB make up their mind.
30 days to inform you and then it will be the DD thereafter so prolly February DD for most punters on trackers
Excellent?........It depends if your a saver or a borrower.
Also what worries me is the size of the drop indicates that things are going to get a lot worst in the Euro Zone and UK before they get better.
So, Yiphee mortgage payments may come down, but that's no good when jobs are going and taxes are going up.
ivannomonet
Registered User
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- 86
Funniest thing I've seen in a long time.Love the logic......if life was so easy hey!
Get really. Interest rates reductions do not only concern mortgage holders......you just asked exporter how the exchange rates have hit there business in the last two months alone.
It's going to get a lot worse before it get better. People who don't see this are very naive
Get really. Interest rates reductions do not only concern mortgage holders......you just asked exporter how the exchange rates have hit there business in the last two months alone.
It's going to get a lot worse before it get better. People who don't see this are very naive
I
irishlinks
Guest
ECB cut is effective from Dec 10th
Great news!
A question for the informed among us.
Scenario:
Figures used are only for illustration purposes only, so don't be too harsh!
Mortgage before the reduction of say €1000
Mortgage after reduction = €900
Payer not only decides to keep repayment at €1000, but to increase it to €1200 in order to reduce term.
Question: Can the payer submit the €300 difference directly against the capital each month or is this already happening in that any overpayment is directly offset against the captial.
BTW. After last reduction in rates I increased my actual repayments by about 30% - this had the net effect of reducing my term from 19 years to 12.5 years.
A question for the informed among us.
Scenario:
Figures used are only for illustration purposes only, so don't be too harsh!
Mortgage before the reduction of say €1000
Mortgage after reduction = €900
Payer not only decides to keep repayment at €1000, but to increase it to €1200 in order to reduce term.
Question: Can the payer submit the €300 difference directly against the capital each month or is this already happening in that any overpayment is directly offset against the captial.
BTW. After last reduction in rates I increased my actual repayments by about 30% - this had the net effect of reducing my term from 19 years to 12.5 years.
You should inform the bank if any overpayments are to go towards the capital. There is no guarantee that they are putting the overpayments towards the capital.
Yes definitely. Otherwise they are just being taken off your normal capital + interest payment.
WOW, I've seldomly seen such a stupid comment here.
What got us into this mess is over-spending and under-saving in the 'western world' encouraged by a long spell of much too low interest rates!!!