Leeds Building Society Mortage Rate Reduction

sandanista

By way of an 'update', here's a response I received today from Leeds. I have a SVR of around 7%


*******
Thanks for your email,

I can confirm that on the 1st of December the Society reduced it's
standard variable rate to 5.94% following the Bank of England reductions
in October and November.

The SVR is currently under review following last weeks BofE reduction.


Kind regards,

Direct Mortgages
Leeds Building Society

*******

We're being taken for mugs and we can't do a damn thing about it. Makes me so angry.

Jvic28

I agree. If the rate went up I'm pretty sure they'd ammend it a lot quicker than this, but when it goes down we've got to wait ages. And there's not a thing we can do about it. It makes me furious.

Jvic28

Well result at last. They put my mortgage down by about £30 after the last reduction of £80. Just have to wait for the most recent 0.5% reduction which they say is still under review. I won't hold my breathe on this one though.

FixingIt

Does anyone know if Leeds are cutting their rate following the rate cut yesterday? I never seem to be able to find any information on Leeds :mad:

Jvic28

FixingIt wrote: »

Does anyone know if Leeds are cutting their rate following the rate cut yesterday? I never seem to be able to find any information on Leeds :mad:

Leeds haven't reduced they're SVR in 3 reductions of the BofE base rate. I have sent them an email (again) which they will probably reply to as under review but I wouldn't hold your breath. I'm sure if the base rate went up they'd be much quicker making a decision.

Jvic28

Ha Ha!

I wish I'd bet on it. I had an email from Leeds yesterday afternoon.

They're SVR is currently under review and they will contact me if a reduction is made.

Useless!