Royal Bank of Scotland says it will not cut its SVR which is 4%

chrissoton
chrissoton Posts: 9 Forumite
in Mortgages & endowments
[EMAIL="F#@k/$g"]F#@k/$g[/EMAIL] thieves

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    Not really - they're not obliged to pass on the cut so in what way are they stealing from you?
  • windswept
    windswept Posts: 1,412 Forumite
    I can't believe that people are actually moaning about having to pay 4% on their mortgage! You should be thankful the rate isn't 15 bloody percent , as it has been in the not too distant past - you'll really have something to compain about if it reaches that level again.
    I feel sorry for people retiring this year and trying to find a half decent annuity with a pension pot that's probably halved in value.
    If you think you're hard done by now, god help you in a few months when rates shoot up again. Get a grip.
    "There is a light that never goes out"
  • System
    System Posts: 178,090 Community Admin
    Photogenic Name Dropper First Post
    4% isn't bad, really.
  • Peelerfart
    Peelerfart Posts: 2,177 Forumite
    First Anniversary Combo Breaker First Post
    Joeskeppi wrote: »
    4% isn't bad, really.

    I bet there's quite a few here who would like 4% .
    Space available for rent
  • CRUISEMAN
    CRUISEMAN Posts: 18 Forumite
    It is likely that RBS will be trying to protect savers and not robbing from anyone! A SVR of 4.00% is low enough...what is a travisty is savings rates of less than 1.00%!!
  • System
    System Posts: 178,090 Community Admin
    Photogenic Name Dropper First Post
    Peelerfart wrote: »
    I bet there's quite a few here who would like 4% .

    Yeah, me for a start ;)
  • hearts
    hearts Posts: 1,191 Forumite
    I must say I have some sympathy with the OP. If they were going up as quick as they are coming down, I bet they wouldn't be saying " We are not raising our rates in line with the recent rise" ;-)
  • dannykos
    dannykos Posts: 78 Forumite
    but as someone pointed out to me recently - the SVRs can't always go up in line, and come down less - as sooner or later the margin grows too wide. I predict that if rates rise by 3% over the next 3 years - that the average SVR will actually only go up by 2-2.5%
  • b0rker
    b0rker Posts: 479 Forumite
    I am currently with Northern Rock and am paying 6.99% until September 2009.

    Northern Rocks SVR is currently 4.79.

    If it is 4% by September I will be overjoyed.

    I would not really expect it to go any lower considering the government intervention etc.

    RBS is in a very similar position.
  • hearts
    hearts Posts: 1,191 Forumite
    dannykos wrote: »
    but as someone pointed out to me recently - the SVRs can't always go up in line, and come down less - as sooner or later the margin grows too wide. I predict that if rates rise by 3% over the next 3 years - that the average SVR will actually only go up by 2-2.5%


    Yep this is likely. I mean we all know how trustworthy the banks are ;-)
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards