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Is your bank passing on the cut?
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lrr_2
Posts: 945 Forumite
Sick of getting the runaround from my bank on this! Time to name and shame them!
Is your bank passing on the cut?
A - Yes
B - No
C - Under Review Blah Blah Blah!
Is your bank passing on the cut?
A - Yes
B - No
C - Under Review Blah Blah Blah!
Is your bank passing on the rate cuts? 134 votes
Yes
42%
57 votes
No
19%
26 votes
Under review - Blah Blah Blah!
38%
51 votes
0
Comments
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Time to name and shame!
One account - Not heard a thing from them. Contacted them via link and told under review. Communication (non existent) from them terrible.0 -
Yes (Nationwide). Of course, I'm on a fixed rate so it doesn't help me (at least until my deal expires next year...)0
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Yes - Birmingham Midshires - though takes 9 / 10 weeks after Interest Rates are cut before the Direct Debit is reduced.0
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Yes - National Counties Building Society - passed on .3% a week or so back (or rather received the letter then), and tonight received a letter that they've reduced by 1.5 percentage points. Hooray!
My monthly mortgage is now £74.83 5.29% interest only. Will pay it off next year with my pension ACs, so very happy for the reduction!
PS - I have loved being with National Counties, no-one else seems to be with them, but they've been great.
Jen
x0 -
Yes- Halifax, but we have a tracker so we have seen the full cut within a month each time. 3.79%, didn't think I would have been saying that when we got the mortgage in may!!!! I think that is the last cut they will pass on though, I think they have a clause that saves them from lowering to under 3%?0
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Yes- Halifax, but we have a tracker so we have seen the full cut within a month each time. 3.79%, didn't think I would have been saying that when we got the mortgage in may!!!! I think that is the last cut they will pass on though, I think they have a clause that saves them from lowering to under 3%?
We have Halifax mortgage too and have also had a cut each time.
We took out our mortgage with them in april and it has gone down £225 since then! We're chuffed to bits, though we are aware it could shoot back up but it helps over xmas.0 -
Yes ING Direct - SVR has gone from 6.54 to 4.840
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This is very odd, their website says that their SVR is 6.79% effective from 24th Nov. They have also just announced that their savings rates are dropping by 0.3% from 24th Nov.Jennifer_Jane wrote: »Yes - National Counties Building Society - passed on .3% a week or so back (or rather received the letter then), and tonight received a letter that they've reduced by 1.5 percentage points. Hooray!
My monthly mortgage is now £74.83 5.29% interest only. Will pay it off next year with my pension ACs, so very happy for the reduction!
PS - I have loved being with National Counties, no-one else seems to be with them, but they've been great.
Jen
x
Has the latest letter travelled back in time from the future ?
Edit: It seems that you won't be on the 5.29% rate until 24th Dec. It makes a good Xmas present though.:)0 -
I have an A&L and a Britannia mortgage - both have just moved to SVR after a fixed period. Neither have dropped their rates yet.0
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Nationwide lifetime tracker .98% above BER, now down to 3.98% monthly cost of 798.22, saving approx £150 since moving mortgage to this last month.0
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