One Account rates cut

camz2008

#581

A fixed rate offset? :P

malocao

Juno_Moneta wrote: »

Now lets all stop talking about mortgages and get on with Xmas! :beer:

Hear hear. Have a thanks from me.

But Brice is right as well: we need to watch this lot closely in the future, especially if LIBOR moves closer to BoE.

Regards

harryskinters

"RBS/NatWest, of which 58% is owned by the government, is cutting its SVR from 5.19 to 4.44%, a 0.75 percentage point fall, from 1 January.
However, One Account SVR customers with RBS will see a one percentage point fall after failing to have the November Bank rate cut passed on in full."

All of a sudden we the OA customers have the advantage! I really cannot understand what their strategy is. One thing for sure though, RBS can only dream of the resources for lobbying and campaigning that we can generate for free with forums like this. How much would it cost them to buy the services of so many passionate and motivated people.


0.25% cut not passed on in April.
0.25% increase, out of the blue in July.
0.5% not passed on after the BofE Nov 1.5% cut.

Insider_knowledge

This is such a load of my mind, and my purse, I may actually go out and spend some cash on a bottle of wine and a steak.
If my favourite restaurant is still trading?

Juno_Moneta

harryskinters wrote: »

" I really cannot understand what their strategy is.

Perhaps they calculated that leaving it for another month would cost them a £fortune in staff time to deal with all the thousands of phone calls, emails, complaints, oh and hours and hours of live chat sessions!!!

You can imagine the One call centre this afternoon. They are all nervously looking at one another, waiting for a phone to ring...

Actually - after all my complaining - I have to admit that I logged onto live chat and thanked them for a quick decision this time, and also wished the hard working call centre staff merry xmas.

Maybe others should too. It all helps! :A

jtcedinburgh

I think we can all go and have a beer to toast a small victory!

This takes me down to 4.2% - happy day, I don't think I've ever had a mortgage rate that low since buying my first place in '98....

Insider_knowledge

Well we do tend to have our savings in their too, I would imagine most One Account customers, like myself pay in much more than the required sum each month, RBS get the benefit of this capital, as well as us shortening our mortgages and saving interest.

Insider_knowledge

Just logged into chat and thanked them also

Cheers all, but I will be keeping a sharp eye on them in the future

Insider_knowledge

4.2, 4.2, 4.2!:T
4.2, 4.2, 4.222222222!:T
4.2, 4.2, 4.2!:T
4.2, 4 . 2!
:beer:

blisteringblue

Good news finally. Well done people, amazing what a little "people power" can do.

:money: