No sour grapes here even though I took out a 7-year fixed rate 4 years ago so on the face of it, it isn't great news. However, anyone expecting the banks to pass on the full 1.5% cut are kidding themselves. And as for the tracker rates, don't expect those to drop by the full 1.5% either because over the past few days some banks have wised up and increased the tracker gap (expect that gap to increase again with immediate effect because I doubt anyone was expecting such a large cut) whereas others have pulled their tracker mortgages from the market completely meaning new customers can't get a tracker mortgage with some banks. Despite all that, those with tracker and variable mortgages will of of course feel some benefit even with all the piss-taking that the banks are engaged in, but I'm more than happy to know exactly what I'm paying for the next 3 years and once that period is up I will be seeking to fix my mortgage again. It isn't the credit crunch that has fucked me up financially over the past 18 months - it's me and the ex splitting up and me having to buy her out, along with having to cope with one wage coming in rather than 2. The credit crunch has been a minor pain compared to that!