Is your bank passing on the cut?

sb1304

Big_Bear_Phil wrote: »

Skipton Building society's SVR

No - under review for the last 2 cuts which is 2%

Thanks Skipton

Just got the letter. They have reduced their rsvr by 0.5%. So out of the last 2 drops they've passed on only 0.5%... utterly unacceptable!

Their response on the phone was to say 'well we've got to protect our savers'. That's great but I'm not prepared to subsdise them to the tune of nearly £100/month.

SkiptonBS you have been SHAMED!!

When libor settles and after the next BoE meeting I'll be moving...

S

iain1970

My RBoS Offset mortgage was reduced by 0.5% this month (a month behind the October rate chage) and I have yet to receive notification about the November reduction. I am not hopeful that we will see any of it to be frank.

To add insult to injury, their website and my local branches have stopped displaying their interest rate information.

If they do not pass it on, I will pull all our banking from RBoS after 38 years of savings and mortgage business with them.

lrr_2

Seems like the RBS group is a total shambles just now!

As about as useful as a chocolate teapot just now!!!!!!!!!

Jvic28

Lyndap wrote: »

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:

OMG - I can't believe that response. If the base rate went up they would have increased the SVR by now, thats for sure. I hope this was just someone having a bad morning as I desperately would love a decrease (however slight) in my mortgage repayment.

fc123

Woolwich Openplan. From 1st Dec. 3.49%. Any drawdown to 6.14%

Sapphire

No!

Standard Life have not cut their SVR at all. Ba**ards. :mad:

Jvic28

I just had this email from Leeds:

Good Afternoon,

Following your recent enquiry, after carefully monitoring the market, and taking into account the interests of our Savers and Borrowers, we are pleased to confirm that Leeds Building Society's Standard Variable Rate will be reduced to 5.94% with effect from Monday 1st of December.

Kind regards,

Direct Mortgages

Leeds Building Society
Tel: 08450 50 50 62

Isleman

Sapphire wrote: »

No!

Standard Life have not cut their SVR at all. Ba**ards. :mad:

I second that . They still having displayed this on their website for ages

"The Bank of England reduced bank base rate to 3.00% on 6th November 2008. As a result, we are reviewing the Standard Life Bank standard variable rate, which is currently 6.59%."

They probably hope we will forget about it by next year. They haven't passed yet any cut double Ba**ards.
However they were very concerned about their image couple of months ago and they have done a survey to see the customer satisfaction. Please do another survey now and I will show you "customer satisfaction"

valiantman1967

Leek United BS have cut the SVR 5.99% from 6.89% ,the month before they cut it by just 0.2%.

I am not too happy with this ,but didn`t expect anything different.

hells_2

Jvic28 wrote: »

I just had this email from Leeds:
Good Afternoon,

Following your recent enquiry, after carefully monitoring the market, and taking into account the interests of our Savers and Borrowers, we are pleased to confirm that Leeds Building Society's Standard Variable Rate will be reduced to 5.94% with effect from Monday 1st of December.

Kind regards,

Direct Mortgages

Leeds Building Society
Tel: 08450 50 50 62

PHEW!! That's a relief!!
I was going to write and kick off with them if they didn't reduce their rate, or indeed would encourage Mr Lewis here to have a quiet word with them.

Leeds BS are currently boasting they are 94% funded by customer deposits, and therefore have very little need to go out into the market for money, so charging over twice base rate is extortionate! Not least that I spoke to them recently about a consent to let on my mortgage (as BTL out of the question)...they said yes as long as I consented to THEM loading the rate by another 1%:rotfl:
I told them where to get off, of course! Might reconsider it now, but it's still very naughty!

I hope to get my confirmation letter through imminently then, as my mortgage payment goes out on Monday. When I called them 2 weeks ago they said "we will put you on our mailing list should we decide to reduce the rate"....I kindly reminded them that as a customer, they HAVE to write to me anyway....silly sods!!!