One Account rates cut

apap

George Osborne thinks that they are going to be next govertment therefore was very upset on his speech response to pre budget about the debt he is going to take over.

Mr Osborne , fire is here today, who cares about the future

bexley129

Got a letter from RBS yesterday stating that they are only passing on 1% of last months 1.5% base rate reduction. After querying this I was told they are under no obligation to pass on any rate cut because my mortgage is a SVR, not much hope of seeing any great help from todays 1% cut.

RBS are supposed to be 59% government owned now but it appears they can still stick their fingers up at Gordon Brown !

bluekipper

Princess_Coupon wrote: »

As of 30/11 I am paying 5.05% and OA assure me it is the lowest rate they do

They dont list 5.05% in their 'our interest rate tiers' on their web site it starts at 5.1%

silverfox92

Great, just keep up the good work do not let up, even now those upper managers at RBS/HBOS etc still feather their ( hmm taxpayers?) nest. I have written to my MP and OneAccount securely.

Big Gordon ( that unelected PM as far as i am concerned) is full of Stealthy quips, and slides out from answering any tough real questions that affect real working people, the truth.. Middle England is getting stuffed....bend over and take it from NeoLab Denialists ... remember these words Prudent? Fair? Just Society? All NeoLab garbage.. they have delivered precisely ZERO in 11 plus years to workers.. and worse we now have a terminally sinking ship.. and the bailing out will not stop us going under... time for my medicine before the leftie bleating starts.

randym68

I agree with you all it is terrible we are not recieving the full reduction in mortgage rate. i used to manage part of the the RBS clearing services, so know a little about this. but the picture isnt always clear

Princess coupon:- to answer question on LTV, its the actual valuation RBS make costing £230 each time, the LTV is calculated on your available amount, if you wish to qualify for lower LTV rate you have to request the available loan be reduced, I would be careful in current climate they are not allowing you to increase loaned amount, they need to increase capitol so could be one way choice, reducing your available liquid cash.

all need to remember it is not our taxes they lent the banks, its probably the arabian and chinese money that they loaned, its our taxes paying the intrest on that £500 billion. and they are paying between 9-17% on that loan which is seriously worrying. not only are we into hock with arabians and chinese but we have no influence with that money.

the person recomending putting all ya savings into the OA , careful, in legal terms if the bank goes belly up, you may not get the cash back, someone buys the mortagage at net amount owed, when in administration (ie iceland bank).

To answer about LIBOR rate, this is deceptive, as the banks DO NOT borrow all the money they need in LIBOR it is used to get them through 4 weeks, often only used in 48 hour increments, often after cheque clearing / CHAPS/BACS , they usually move £4-10 Billion in a night, but the differences between all that are moved this can be £10-200 million, depends, on this they use LIBOR till they are owed money which usually happens, other wise they would need £200 million hanging around just in case, Libor rate for end of november between 2.99%-4.14% (1day-12mth) so i think they are making plenty of money.

or you would think, a look at balance sheet and P&L for jan-jul 08 shows there operating loss was -(euros) 2.5 billion in europe. ouch so i think thats answering all your questions on why rates aren't coming down. it does cost £4 billion operating costs per 12 months, down 12% , not many companies reduce operating costs by that much

over all its hurting us all but we not doing bad , ya feel for poor !!!!!!s rushed this year to get a fixed rate on 7% . there is always a silver linning

Juno_Moneta

If you want to hear something funny dial One on 08453 010101 and listen to the 'new' announcement.

Deja vu?

God help us.

randym68

here is the real LIBOR rate by day and clasifications

http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=141&a=11948

Insider_knowledge

I bet Robert (pregnant pause) Peston will not take this up, he appears more and more to be in the governments pocket. However Snow on Channel 4 emailed me back asking for more details so perhaps they will cover it, as part of their interest rates piece. I am not sure if Intelligent Finance have passed on the cuts.

Princess_Coupon

bluekipper wrote: »

They dont list 5.05% in their 'our interest rate tiers' on their web site it starts at 5.1%

I have a flexible motgage ie no bank account but everything else the same it has slightly lower rates for each tier

Insider_knowledge

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