Alliance and Leicester Rip OFF

greyhorse_2

Cant believe that alliance and leicster havent reduced the standard intrest rate on its mortgages, still charging 6.8%.

What a rip off, it just shouldnt be allowed !!!!!!!!!!!!!!!!!

Hence I will be leaving them shortly.:cool:

mrnomoneybags

greyhorse wrote: »

Cant believe that alliance and leicster havent reduced the standard intrest rate on its mortgages, still charging 6.8%.

What a rip off, it just shouldnt be allowed !!!!!!!!!!!!!!!!!

Hence I will be leaving them shortly.:cool:

If you mean they haven't cut it in respect of the 1.5% BOE base rate cut then i think leaving this soon is a little hasty IMO.

I'm with Bank of Ireland and they haven't cut there's yet but they have passed on every drop to date.

WestonDave

This hysteria is almost laughable - those lenders who have cut their rates are often doing so with effect from 1st December. Are you really going to pay typically £500+ to get on a different deal only to find that by Friday A&L have finished doing their sums and got it sorted to a rate comparable to all the others?

As I've said elsewhere its very noticeable that the banks that didn't get bailed out (HSBC (inc First Direct) and A&L (under Santander)) haven't bowed to Darlings pressure to make quick announcements and are thinking it through - probably with a view to undercutting everyone else who has jumped in quickly in order to mop up all the best business. I would expect those who were most competitive before the cut to be at least as competitive after its all shaken out.

unite79

That makes little or no sense seeing as Abbey Ala Santander where the second lender to pass on the cut.....

payless

thought their svr was 6.94% anyway !!!!

matt83uk

Yet another one of these threads. Payless: It is 6.94%

> What a rip off, it just shouldnt be allowed !!!!!!!!!!!!!!!!!?

Can you explain the logic behind that? Did you agree to a tracker or a SVR backed product?

For the record I have a mortgage with A&L and could do with a rate cut, although I entered an agreement with A&L that was very clear regarding it would revert to a SVR at end of product, I hope A&L do follow the base cut but they are under no obligation to do, either contractually or ethically as they do not borrow money from the BoE. The weak arguments that reference the 3 month Libor (which by the way hasn't shifted 1.5%) on of this forum should be ignored, unless you work in the mortgage department of said company it is wrong to presume that they base on this or even borrow/lend mortgage assets against this, that level of transparency just isn't afforded to account holders. I am confident that A&L will have a rate cut but weather it is 1.5% is another thing...

unite79

Matt, Libor has almost shifted 1.5%, over the last 7 days, but get you point.

greyhorse_2

As both companies are ownd by santander, seems odd one is doing one thing the other nothing.:cool:

All I want is the base rate to be cut, after all dont they understand why we have had the rate cut #!!!!!!!!!!!!!!!!!!:T:T:T:T:T:T

dunstonh

As both companies are ownd by santander, seems odd one is doing one thing the other nothing.:cool:

Not really. It's too early to see cross group pricing. The cost base at A&L is likely to be higher than Abbey as Santander haven't had a chance to cut costs there yet.

minimike2

:rolleyes: @ this thread.

alchemistkevin

minimike2 wrote: »

:rolleyes: @ this thread.

What for?

the OP is rightly miffed that the rates haven't been cut.

I am with A&L and if they don't decrease their rates soon (I'm patient) I will leave them too.

In the past A&L have passed on the raised the prices almost immediately, like they already have a template ready that goes to post as soon as BoE raises the interest rates and I would get my letter in the next 3/5 days. This time, the last cut was passed almost after a month (or maybe more) and it's happening again!


It's not really funny to lol & troll when you're not in the boat.