Another interest rate cut??

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mrswildrogue Posts: 1739
I heard it on the news this morning that there may be another interest rate cut by 0.5%. Did anyone hear anything more about this or is it really happening? DH had to go and sign on this week for first time as he was made redundant O:| so every bit of good news is welcomed!
MikeBurkePhotography Posts: 286
I heard that there might be a cut of .25% or .5% - decision expected at lunch-time today - about 2.30, I think.
frillynickers Posts: 1765
I work in a bank, and thats whats being said at the moment. The ECB wont announce interest cuts until after 1.30 usually. I'll keeo an ear out and let you know. I really hope they do!!! Sorry to hear about your husband, do you have mortgage protection as this should cover you repayments for up to a year. Also make sure you let your lender know staright away (if you havent already) they may be able to do something to retructure the mortgage, maybe go interest only and reduce your repayments for a few months until your hubby gets a new job???
Cathy34 Posts: 1068
0.5 would be great wouldn't it
YoungsWIfe Posts: 738
Yes I heard this too. Oh why oh why did we fix our mortgage O:|
mrswildrogue Posts: 1739
[quote="frillynickers":twsncs9s]I work in a bank, and thats whats being said at the moment. The ECB wont announce interest cuts until after 1.30 usually. I'll keeo an ear out and let you know. I really hope they do!!! Sorry to hear about your husband, do you have mortgage protection as this should cover you repayments for up to a year. Also make sure you let your lender know staright away (if you havent already) they may be able to do something to retructure the mortgage, maybe go interest only and reduce your repayments for a few months until your hubby gets a new job???[/quote:twsncs9s] Thanks frillynickers, yeah we were speaking to our bank yesterday and got it all sorted.I'd be very organised like that! Cathy - 0.5% would be great! So far our mortgage is down about €600 since we started paying it over a year ago.
Cathy34 Posts: 1068
we are down around 400 too :o0 can't wait for more
newkid30 Posts: 2233
It's really taken the sting out of the recession hasn't it!! :o)ll :o)ll :o)ll
mrs bmw Posts: 6447
It went down a 1/4 of a % it's now 1.25% >:o)
mrstobe09 Posts: 875
thats great, the only advatage to a recession