Barclays customers wait almost a year to benefit from rate cut

indig

It is scandulous in today's environment.

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5183109.ece:mad:

tripled

Out of curiosity, when rates were going up, did Barclays pass on the rises immediately or did they treat them on the same basis, ie hold them off until the next review? If they did, I'm not sure how it would be 'scandalous'.

Kez100

I think the interest falls it's just the payments stay the same. Saves a lot of admin I guess. It says you can ask for payments to be reviewed so hardly scandelous - especially as it was in the terms!

minimike2

What nonsense.

They benefit from a reduced interest rate usually straight away, or at least from the 1st of the following month.

The *payments* are reviewed annually, but it is BENEFICIAL to the client to still pay as if the rate was higher, as they are overpaying, which has a massive long term comounded effect.

Stupid 2008 style sensationalism journalism in its most utter ugliest form.

The sooner these idiots learn a bit about what they are reporting on the better. I expect more from the Times. Thats worse than bloody MSN money fgs.

bobbydrake50

They even mention in the article about the payments going down if you contact them - I am going to try to leave mine the same for as long as possible as I am just paying what I thought I would be anyway. It would be nice to see the balance going down a bit more this year!

foreversummer

Made me so cross when I read this last night that I sent a comment (you have the option to do this under the article) to say that I thought is was a very misleading piece of reporting. To say that customers will miss out if they do not phone to get their payment changed is just highly irresponsible and scaremongering.

Foreversummer

koexelek

minimike2 wrote: »

Stupid 2008 style sensationalism journalism in its most utter ugliest form.

The sooner these idiots learn a bit about what they are reporting on the better. I expect more from the Times. Thats worse than bloody MSN money fgs.

Since when has news of a lender acting fair and reasonable sold papers ? :rolleyes:

I'm waiting for the Mail to advertise the official "credit crunch " Dalton plate soon.
It will probably have someone sitting at their kitchen table , surrounded by all their bills, with their head in their hands :rotfl:

mfhstid

The Times report is nonsensical, as would have been evident to the reporter had he read this thread: http://forums.moneysavingexpert.com/showthread.html?t=545126.

Charlton_King

They're all as bad as one another.

First line spoken out loud on the ITN 6.30 news yesterday:
'Shoppers see prices drop for the first time in ages'... which is an interesting way of reporting a drop in the rate of price inflation....

Kez100

koexelek wrote: »

Since when has news of a lender acting fair and reasonable sold papers ? :rolleyes:

I'm waiting for the Mail to advertise the official "credit crunch " Dalton plate soon.
It will probably have someone sitting at their kitchen table , surrounded by all their bills, with their head in their hands :rotfl:

Watch out Money Savers the 'Dalton' plates are fake copies.

The real Royal Daulton ones have a smiley Mr !!!!!!? jumping up and down in the background.

Alan_Cross

Charlton_King wrote: »

They're all as bad as one another.

First line spoken out loud on the ITN 6.30 news yesterday:
'Shoppers see prices drop for the first time in ages'... which is an interesting way of reporting a drop in the rate of price inflation....

That's truly appalling. Talk about sensationalism overriding professionalism.

But then sensation-mongering is the profession of these people. Why should we be surprised? I suppose we have to expect it from cheap, tacky ITN. I would hate to think that any such thing was done on the Beeb, where I'm helping to pay the salaries.