IIB ECB rate drop

regarding the offset mortgage, the person on the talkshow is incorrect,
the rate for the offset is reduced inline with the ecb rate which was announced on the 9th of oct, but the ecb did not implement until the 15th of oct, the peoples repayments will stay the same unless the mortgage holders request the repayment to be reduced.

also to the rest of you the banks can reduce the rates on their mortgages inline with what their terms and conditions say,
honestly you have nothing to complain about as you signed the loan offers which means you signed up to the t's & c's.

Hi, we were away last week when the ECB rate was cut once more and we missed all the discussion around it. I've just read this article ([broken link removed]) from the Times which says that all banks were passing it on but IIB/KCB still hadnt confirmed.

Does anyone know if a decision was made yet?

thanks.

Just in case it's any use to anyone else here, I got this email from IIB today:

I can confirm that the interest rate on your account was reduced on the 2nd November and will therefore be in place for your 1st December repayment. Please note that your November payment is collected on the 1st December as payments on your account are collected in arrears.
The interest rate cut of the 6th November will be effective on your account as of the 2nd December and will be reflected in your 1st January 2009 repayment.

We got our letter today from our friends in IIB (now KBC). Drop in effect from Dec 1.

The second drop will come in a 'second letter' most probably a month down the road....

BM

We got a letter as well, it contains detail of the first rate cut (KBC reference the announcement in the press dtd 29th Oct) which came into effect on Nov 1st.

The letter then goes on to say that a further cut - announced by ECB in November - of .5% will be passed on in full with effect from 1st Dec.

It all seems very smooth!

Has anyone got a link to a graph of interest rate movements in the last year or 2 ?

It would be interesting, Ill try google it now.......