Alliance & Leicester SVR concern

matt83uk

The branch can't make those decisions, they are merely an outlet for selling a select range of products A&L offer. If you want to be heard write to their director of mortgages, but give it to the end of the week. If they dont make an announcement by close of business Friday then its time to turn the pressure on!

lizzymouse

This is the latest from them, i just asked them in an email why they havent passed it on yet and when or if they intend to:

Thank you for your email.

At the moment Alliance & Leicester have not made a decision regarding
our Standard Variable Rate in response to the adjustment from the Bank
of England.

If we do decide to adjust our Standard Variable Rate all affected
customers will be informed in writing of the change.

Kind regards

I will stay on their rate as long as i have to but as soon as i can i am going to move as its appauling for them not to tow the line and do the right thing with this.

jaigo76

This is getting confusing now... if they say they have not even made a decision yet, hows comes some people have already had there SVR reduced?

jrh20

Yeah basically hundreds of people are asking the same question and they just send out a standard, almost automated response. Thanks for the customer care A&L

jrh20

Only people reverting to a BRT or oart BRT have had a rate cut. No one with the standard SVR will have seen anything from the b*****ds

matt83uk

Announcements seem to come Friday and Monday for A&L. If nothing by COD 1st Dec then I think we have a reason to be disappointed.

Can't help but check this site a few times a day tho for some news

michaelm

As an A&L mortgage holder since 1988 I am disgusted at their lack of support for their customers. There is absolutely no chance this cut is going to be passed on. They have us by the short and curlies for now and they know it. The Govt is also to blame for failing to force banks to pass on cuts. But what the banks fail to realise is that people have long memories when it comes to money. I really hope A&L goes under along with the morons that pass for CS staff there.

dmg24

michaelm wrote: »

As an A&L mortgage holder since 1988 I am disgusted at their lack of support for their customers. There is absolutely no chance this cut is going to be passed on. They have us by the short and curlies for now and they know it. The Govt is also to blame for failing to force banks to pass on cuts. But what the banks fail to realise is that people have long memories when it comes to money. I really hope A&L goes under along with the morons that pass for CS staff there.

You will find that A&L do tend to pass on their rates later than most. Whilst I am not excusing this, I do not see that you have any grounds to state that the cut is not going to be passed on at all.

Your comment about A&L's CS staff is very unfair. They do not make any decisions with regard to the interest rate, and I imagine they are having a pretty horrid time at the moment.

michaelm

dmg24 wrote: »

You will find that A&L do tend to pass on their rates later than most. Whilst I am not excusing this, I do not see that you have any grounds to state that the cut is not going to be passed on at all.

And you have grounds to believe it will? My gut feeling is that it will not. I'd love to be proven wrong but I really think I'll be proven right.

dmg24 wrote: »

Your comment about A&L's CS staff is very unfair. They do not make any decisions with regard to the interest rate, and I imagine they are having a pretty horrid time at the moment.

I have a horrid time at work all the time as I work in the IT Service Desk of a large organisation with 4000-odd staff. But I don't treat them like something I've had to scrape off my shoe. That is the experience I have with A&L staff. Many others feel the same.

mrdantheman

Well, all I can say is that I hope A&L adhere to the "Treating Customers Fairly" principle promoted by the Financial services authority. I honestly thought being an existing customer I would be at an advantage but obviously not! They could at least waive the £295 admin charge for moving my mortgage!