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Is your bank passing on the cut?

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Comments

  • I phoned the Leeds again today and asked them if the plan to reduce thier SVR which is 7.09 and they said probably not, we do not see why we should!! I was a bit taken aback with this reply as they have not passed any cuts on yet. Oh well time to change companies I think.:mad:
  • michaels wrote: »
    HSBC have gone from having historically competitive mortgage standard variable rate to one of the highest having only passed on 81 basis points of the combined 200 basis points cut. As this is how they treat their loyal customers, costing them thousands of pounds a year on average I would recomend not taking any financial products from them or First Direct if at all possible.


    I don't see why your talking about boycotting FD their SVR OF 5.5% was better than a lot of providers even the Nationwide rate you posted in your next post (Oct)and 4.69% from December 5th is only matched by Nationwide 5 days later.
  • temba
    temba Posts: 320 Forumite
    Yes. Hurray for Halifax. I am coming off my fixed rate of 4.79 this month and was expecting a substantial increase. In fact the SVR is now only 5% so my mortage will hardly change.
    [SIZE=-4]MF date: Dec [STRIKE]2028[/STRIKE] 2019. Overpayments in 2007=£900, 2008=£1200 2009=23400[/SIZE]
  • Endeavour Finance - No. Aparently they only follow the Inter Bank Rate, What is this??
  • Egg passing on cut in december. Goes to 3.99%
  • milanos
    milanos Posts: 62 Forumite
    michaels wrote: »
    OK - since the 200 point cut in base rates Nationwide have passed on 181 points cf 81 for hsbc

    1 October svr - Nationwide 6.5%, Hsbc 6.25%
    10 December Nationwide 4.69%, Hsbc 5.44%

    .

    Is the Nationwide rate of 4.69% their SVR or BMR or are they the same thing? (as i'm hoping)
  • milanos
    milanos Posts: 62 Forumite
    Apologies, have been back on to their website today and it's quoting the BMR as 4.69%. Happy with that since I'll be coming off my discount tracker in March so have some time to weigh up my options and not just jump to the first decent looking deal available
  • covlass
    covlass Posts: 562 Forumite
    Northern Rock pass on the cuts late, I'm on a tracker I phoned them this morning asking when I will recieve the cuts.
    1st December 0.5% cut takes effect new rate will be 5.19%
    1st Jan 1.5% cut takes effect, new rate will then be 3.69 , but we have to wait 2 months for all cuts !
    " I would not change you for the world, but I would change the world for you"
    Proud to be parent of a child with Autism:D

    When I see your face there's not a thing that I would change 'cause your amazing just the way you are
  • Principality haven't decided yet altho yesterday said they would make decision in next few days. Passed on .4% of the last one from memory.
  • covlass wrote: »
    Northern Rock pass on the cuts late, I'm on a tracker I phoned them this morning asking when I will recieve the cuts.
    1st December 0.5% cut takes effect new rate will be 5.19%
    1st Jan 1.5% cut takes effect, new rate will then be 3.69 , but we have to wait 2 months for all cuts !

    Ahh that explains thing! I phoned up tonight to ask what December's payment would be and the amount was only about £6 different! I couldn't understand why this was. She said it would be less again in Jan, but didn't explain it at all!! Well at least January will be better then!
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