Banks say they won't pass on 1.5% rate cut

[propertyfag]

Bank bosses have told Chancellor Alistair Darling that they will not be passing any further interest rates to struggling homeowners.

High Street banks warned the government that profit margins were already 'desperately small' and that 'they were not charities'.

The problem is, so we're told, that while the base rate is dropping, the Libor rate isn't. The Libor being the rate at which banks lend each other money.

Full story here

[Uncle Norman]

Does this make others mad or is it just me,
But didnt the government give certain lenders a pot of gold out our our taxes to help them out etc, and now the banks are not passing down the benifits from it.  My god what the hell kind of place do we live.
I suppose i feel bitter as one of my mortgages has gone up to 2k a month lol, oooh the bastarsd

[Uncle Norman]

Looks like it could come down another .5 today, some are even saying a full 1 %.

It has even been whispered in the coridors that it could go down as low as 2 % by the summer of next year.  That would be the lowest on record,  Records that have been around for over 400 years.

[propertyfag]

Yeah, I think there will be 0.5% reduction today!

Man, borrowers on trackers must be damn pleased!

[ferrorolvans]

What i know from the last statistics is they have passed for the pass on for 1 % but that will be negligible one from my point of view.Lets hope some other moderated decision to be putted over to the desk.