Alliance & Leicester SVR concern

mrylandb

I agree with austinslide. A&L were one of the last ones to confirm any reduction in their SVR from last month's cut, so I am not expecting anything very soon.

Based on the fact that the SVR has been reduced by 1.4% of the 2% cut in boebr, I am hopeful that we will get 0.75% reduction. However, I am still much better off than I was 3 months ago and with 6 months to go until I have to remortgage, I can actually put a few quid aside to secure a great deal next year

pritsim

I have a feeling they will only pass 0.5% this time...lets see..we will have to see what santader does with abbey..that will be a good indication...i think if they pass the full 1 percent at abbey we might get about 0.75% cut with alliance and leicester

sherer

you would have thought as the rate at A & L was only changed last week or this week that at that meeting they planned ahead to any possible cut yesterday. It doesn't really make them look that good waiting 3 weeks to make a change so why not plan ahead and announce it early that makes them more attractive to potential mortgage customers and gets them more business

sy8111

I am with A&L 2 yr fixed at 5.39% ending June 2009, assuming market conditions not change then I don't see better reason of remortga than stay with SVR then. Because my LTV is over 75, and another SVR cut is coming which makes it lower than my current fixed rate. And this will also save me cost of fees.

This is best I can choose though desperate.

jaigo76

I still haven't received any letter from A&L informing me about the SVR reduction from the November rate cut... has anyone else not received theirs yet?
Maybe the communication delay is a sign they are about to reduce it again for the December BOE rate cut?

sy8111

jaigo76, their SVR is down so you should have got your cut if yours is tracker. Call them and find out.

teeboy123

My letter only just arrived this morning - so don't panic it is probably in the post. Just to confirm - decreased by 1.1% from 2nd December 2008.

Tony

Timbo152

You can email their Chief Operating Executive David Bennett at [EMAIL="david.bennett@alliance-leicester.co.uk"]david.bennett@alliance-leicester.co.uk[/EMAIL]. They still don't seem to realise the lack of communication and responsiveness is generating a growing number of resentful customers and this will impact them badly in the longer term as we look elsewhere on our next renewals.

Fliss_M

Timbo152 wrote: »

You can email their Chief Operating Executive David Bennett at [EMAIL="david.bennett@alliance-leicester.co.uk"]david.bennett@alliance-leicester.co.uk[/EMAIL]. They still don't seem to realise the lack of communication and responsiveness is generating a growing number of resentful customers and this will impact them badly in the longer term as we look elsewhere on our next renewals.

Yes but the reasons they have given for not giving us the whole cut is they have more dodgy mortgages then abbey. And if they are dodgy now they know those people wont be able to move, so while their squeezing what they can out of us, they also know we cant move! (Admittedly a biast view from someone who cant move and has NO bargening chip, but eh. Bet they will be quick about increasing were it to go up! :mad: )

MorganW

I've put my money where my mouth is and signed up to First Direct. I'm going over to their BOE+1.49% tracker rate. I have no intention of being held over a barrel by A&L!