woolwich tracker mortgage ,is this correct.

Trying_to_be_good

I expect this "but my rate hasn't changed" will come up again as the Times Money section have printed a statement saying:

"About 300,000 homeowners with Woolwich tracker mortgages have not yet received the benefit of the recent cuts to the base rate because the lender adjusts its rates only annually. But it will lower the rate if you call to request it on 0800 0224022." (my bolding)

Thoroughly inaccurate and uninformed journalism, it's just plain WRONG. The rate change is applied on the first of the month following the rate change, it's just the monthly payment that's only adjusted annually (if you're on repayment), which be changed if you call them.

chivers1977

Is this online Trying to be good? - have tried to search.

Will take this in to the office on Monday so that we know what to expect.....:mad: :mad:

Trying_to_be_good

I looked but couldn't find it online (I searched, too), and also therefore couldn't find a way of reporting to the Times it had got it quite disasterously wrong. I feel sorry for all those who are in the call centre, as well as the concerned mortgage borrowers.

It's on page 68 of the Saturday paper, in the 'Your need to know financial guide' Homeowners section, in the 'top tip' column!

chivers1977

Thank you. Will let the Press Office know.....