A journalist at Thisismoney / Mail Online is writing a piece on how low mortgage rates can go. It's pegged on the back of the Halifax launching its 0.83% rate the other day, and now HSBC launching its own lowest-ever rate at 0.89%.
She wants to know how low lenders could feasibly go, why rates are so low and what would make banks stop reducing them (just the base rate or other factors? And if they are looking for low-risk business, but when will enough be enough?)
Also interested in what circumstances it might be worth someone paying the early repayment charge on their current mortgage and remortgaging onto one of these super low rates. Could it possibly work out in their favour or would fees always negate it?