Nationwide tracker and I am sure there is no collar

has214

i have two tracker mortgages with the halifax, one I took out in 2000 and the other 2004. I just read through the mortgage offers and it does say something about collars although they never use the word collar. They phrase it as "adjust your margin to your advantage or disadvantage" which they most probably will do next month when the base rate falls below 3%. Until I read about this on the internet i was gullible to think that i would have the base rate cut passed on all the way to zero. How silly I was, these banks only look after themselves and their fat cats who are fat enough I think. NO TO COLLARS especially in this economic climate. Be nice to the public who gave you billions when you came begging. Try and help those who helped you and I'm a saver to...

has214

if there is enough support against these collars, banks wont invoke them

sammyjammy

has214 wrote: »

i have two tracker mortgages with the halifax, one I took out in 2000 and the other 2004. I just read through the mortgage offers and it does say something about collars although they never use the word collar. They phrase it as "adjust your margin to your advantage or disadvantage" which they most probably will do next month when the base rate falls below 3%. Until I read about this on the internet i was gullible to think that i would have the base rate cut passed on all the way to zero. How silly I was, these banks only look after themselves and their fat cats who are fat enough I think. NO TO COLLARS especially in this economic climate. Be nice to the public who gave you billions when you came begging. Try and help those who helped you and I'm a saver to...

Couple of points, firstly the tracker margin and the collar are two separate issues, the amendment to tracker margin possibility is peculiar to Halifax and some Abbey trackers.

You use the word gullible, I would use the word uninformed, its in the terms and conditions you signed up to so you'll have to live with it or move on.

The banks aren't in it to be nice they are in business to make money, like it or not its what makes the world go around.

sammyjammy

has214 wrote: »

if there is enough support against these collars, banks wont invoke them

You're living in a dream world love, its business, its in the terms and conditions that you signed up to, just because people didn't read them or think the situation would arise doesn't make it wrong.

has214

where was it in their contracts that they should recieve £37 billion from MR nice guy?

has214

tracker collars are morally not right and should not be invoked, and by the way Sammy are you sitting on heap of cash by any chance?

sammyjammy

LOL absolutely not, I do however have a Halifax tracker, I just think its business, morals don't come into it for the banks, I'm not saying thats right its just the way it is.

I'm confused, your last post sounds as if you're having a go yet you've said thanks to both my posts.........

has214

yes i'm new to this site but I'm not oblivious to mortgages. You say business is business, but I don't think that app. to banks . they are more like businesses above all others. Would I recieve a cash handout if my business was facing meltdown...I don't think so...they have a moral duty to help those who helped them

has214

if mortgage collars are just the way of the world, and if all borrowers on trackers facing collars insisted that they should not be invoked then the government would put pressure on the banks or sanction the corresponding winfall tax or something....then I guess that would also be just how things are...hey?it works both ways

has214

wait until next month when the Halifax writes to you to adjust your terms by increasing your margin and if you have a collar which I'm 99% certain you have, you'll be paying a lot more for your mortgage when the base rate will rise again. Try shopping around and see whats out there. Move along you say..to where? I reply,the banks are way ahead of anything you have up your sleeve...maybe the dummy was right...?