Bank of England Base rate at 3%

[JayFCF]

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Lets hope the lenders actually pass the rate drop on this time.

[Shane]

hmmm I fixed for 3 years a few months ago when it was going mental.. :blush lol.. hey ho ..win some lose some.. least it's flexible so i can pay big chunks off it each year

[dancey]

Luckily my mortgage is due to come out of it's fixed rate in the next 3 months so it's quite good timing for me.

Though I must admit the whole thing worries me, wasn't it cheap credit that got us into this mess of people been stupidly in debt in the first place, and will this not just encourage them to carry on?

[123debtsolutions]

Apparently there is a credit crunch on at the moment.... lol... :tup

[pistol101]

Happy days, i've got 2 expiring shortly. Just a bit gutted didn't grab one of the trackers that have been around over the last couple of weeks as no doubt they will have all been pulled!

[Shane]

3% is great news for those up to the neck in debt.. sucks for those with wedges in the bank and isn't going to do the UK banking system any favours.. who's going to stick their wedges in at really low interest rates when they can get far more abroad in banks guaranteed by governments paying far more interest than that !?

lot of pensioners going to be hit too.. nice nest egg of savings drawing 5/6% interest rate suddenly going to be lucky to get 4%..

winners only win at the expense of losers.. there is no extra money.. it's just the way it's moved around