I’ve looked into foreign currency mortgages. However, It’s not been advisable, as you are taking the foreign exchange risk as well. For example, if you had got a Yen mortgage 6 months ago you would now be looking at a 10% bigger debt to repay than you originally had.

This looks like pretty good public relations to me, as to get equivalent exposure via advertising would cost a fair amount. And they can can always make the difference back in some way as I suggested before, maybe with higher fees or raising their non-SVR mortgage rates, etc.

Anyhow, I guess I’m trying to say that money in general will still be more expensive to borrow, for a while at least. But like you say you’re right to expect a better deal from remortgaging, so good luck with that when the time comes – I think there are still some good deals out there.

I read an interesting book on foreign currency mortgages the other day – have you considered going down this route with your investment debt?

It doesn’t make sense to say it’s a promotional tactic, because the drop applied to existing customers on variable rates.

I’m not blaming BM for anything. I’m just saying that other lenders dropped their rates and BM didn’t. So why shouldn’t I remortgage with another lender that is lowering their rates?

Any providers that have dropped their rates are probably using this only as a promotional/loss leader tactic, e.g. they claw it back through higher fees.

Also, considering the global scope of the credit crisis, it’s pretty narrow minded just to blame BM for not giving you a cut. Most of us are going to be affected by this in some way, whether we’ve behaved responsibly or not…