For Halifax Tracker Customers

lwrighty

Hi

Just found this quote from Daily Mail website.

"Halifax, Britain's biggest mortgage lender, has however pledged not to enforce its 'collar clause' and pass on the reduction.
'Last time there was a cut we said we won't be invoking that option and we intend to pass on all future rate cuts in full,' a spokesman said."

Heres the link.

http://www.dailymail.co.uk/news/article-1108866/Bank-cuts-rates-record-low-millions-homeowners-miss--worse-savers.html

flyingbanana_2

http://uk.reuters.com/article/businessNews/idUKTRE5074UR20090108

HBOS (HBOS.L), Barclays (BARC.L) and Spanish Santander (SAN.MC)-owned Abbey all said their tracker customers would benefit from the full 0.5 point cut, but they were still considering whether to lower their variable rates.

payless

BBC news are saying halifax only passing on 0.25% again this time ( thats 0.5% total against 1.5% BoE drop in 2 months) on SVR rates

RubyShoes

payless wrote: »

My guess is most halifax trackers customers were on 2 yr deals - so many will be moving to SVR soon.

I'm not. Mine is a 3 year tracker, with 2 years 3 months to run.

lwrighty

Here we go again.

http://news.bbc.co.uk/1/hi/business/7871932.stm

Lets see what happens now......

r2mahara

lwrighty wrote: »

Hi

"Halifax, Britain's biggest mortgage lender, has however pledged not to enforce its 'collar clause' and pass on the reduction.
'Last time there was a cut we said we won't be invoking that option and we intend to pass on all future rate cuts in full,' a spokesman said."

Let's see if they will indeed pass on today's 0.5% cut..

EDIT: This link http://www.google.com/hostednews/ukpress/article/ALeqM5jhrdSYBagWEddHuQoCbDbk7DW5rg
says Halifax will reduce the SVR - not sure what that implies for tracker rates.

lwrighty

Trackers will benefit.

http://www.citywire.co.uk/personal/-/comment/property-and-mortgages/content.aspx?ID=328565