Barclays/woolwich Tracker !!

minimike2

Your hunch is right, they are not obliged to offer you the rate, but i would like to think that they will. You just cant tell what they will do these days.

figners crossed you still get it.

sandyw7

minimike2 wrote: »

Your hunch is right, they are not obliged to offer you the rate, but i would like to think that they will. You just cant tell what they will do these days.

figners crossed you still get it.

Thanks - everything crossed!

6am

I have a Lifetime Offset Tracker which tracks BBBR + 0.48%
They have a "get out of jail free" clause in my T&C. It basically says that in exceptional circumstances they may set any rate they like. I fear they will invoke this condition this time.

If they do not pass the rate reduction in full I am prepared to go all the way to Ombudsman. It feels good to remind the bank that the rate may go up as well as down.

foz2000

I have got a lifetime tracker repayment mortgage (been with them for two years) and just wondered if they have annouced if they are going to pass on the cut in interest rates?

I received a yearly statement dated 7.10.08 but it only passed on .25% decrease (£38 a month decrease) I wondered if i would be better off setting up a mortgage with a different bank at a lower rate or should i just hold on for another month or so.

Any advice would be geat

Kathy2312

I also have a Barclays/Woolwich Lifetime Offset Tracker of +0.48. At the time we took out this mortgage (about 2 years ago), my partner and I thought it was a bit risky and almost opted for a fixed deal with high arrangement fees - so glad we didn't now!

The last rate cut was passed on to us, so I would hope and expect to get a letter from Barclays soon giving me a new rate of 3.48%.

I speak as someone who has spent quite a few years on fixed rates which were above variable, so I feel it's payback time for me!

Kathy2312

6am, just seen your post - sounds like we have the same mortgage. You've got me worried now! I'm going to go check out the Ts & Cs.

TotallyBroke

I have had a Barclays/ Woolwich tracker mortgage for the past 9 years and I have never notice them not to pass on every rate drop and rise. I received a letter this month telling me my payment will drop by the 0.25% drop that happened last month and I will expect a letter next month to tell me that December's payment will drop by 1.5%.

foz2000

Thanks for that

sburt4

My understanding is that Barclays Tracker passed on the last 0.5% drop but effective only from Nov 1. Today they told me they dont have to pass on any further drops.

shellbell63

We have a lifetime BoE Base Tracker offset Woolwich mortgage too. Just surrendered 2 unit linked endowments - luckily got in before latest round of FTSE drops. When money comes thru' we're gonna pull out all the stops & pay off mortgage completely.
TYPICAL - as soon as we make /can make that decision - rates drop.......
Still at least we won't have savings getting c*** rates.
Pros & Cons....Swings & Roundabouts:rotfl: