Standard Life Whas going about the last rate cut and this one??

Coppers_2

All we can do is keep up the pressure! SL just hope it all dies out..Contact the newspapers,radio stations,papers and of course SL itself. 5.85% SVR in these times is nearly a sub prime rate!:money:

dunstonh

Always a risk being the only one on the thread to post this way...

Standard Life mortgages are not based on BoE base rate but LIBOR. That is why they were cheaper when LIBOR was lower and why they are not reducing the full rate at the moment.

If you want track BoE base rate then you are on the wrong mortgage with SL.

treliac

aintauri wrote: »

I did not say that the threat existed in a post. Certainly there is a world outside this forum. To reiterate, everyone is affected by the current financial climate, righteous indignation and free speech is one thing, however perspective should be sought.

Then why write as if you were talking to other posters?

you should take a long hard look at yourselves. It's the actions of so called rational people that is despicable. Don't you realise that we are ALL in the same position

I'm just surprised that you are surprised :rolleyes:

spartak_fc

Well I’m glad I’m not alone as a really disappointed SL customer.:mad:
I have a capped rate mortgage set for life at 6.49% or the average of 4 variable rates set on the 15th of each month. SL have always been the cheapest of the 4 rates involved, the other 3 being C&G, Abbey & Halifax. Look at the rates now! Two have passed on virtually all 3% of the cuts, the Halifax is not that far behind; however having stalled after the first 2% cut we get a miserly 0.8% cutting the SL SVR to 5.79%.
At least I can be happy in the knowledge that this cut is balanced with its’ responsibility to savers. I have 2 endowment plans – both failing, both no longer subject to their endowment ‘promise’ and will be lucky to hit 60% of the planned return (forgetting the extra after the mortgage is paid off!). £3K down on the cash value in February!
:mad: WHERE IS THE PUBLICITY OF THIS ‘JAW DROPPING’ CUT? - Martin this is one for you to get your teeth into
As they say; at least !!!!!! Turpin wore a mask!
Generally I'm happy with my capped deal as that is why I took it - fixed rate complainers know what they got into - but I think SL owe a whole lot more to it's customers than the clear greed it is demonstrating.
Rant over, feel better for sharing it - knowing I’m not alone:T

brocher

As a Standard Life customer, I am seriously disappointed in their treatment of their customers - a mere 0.8% was not what I expected. I have registered a complaint with their office. I've also rattled off an email to HM Treasury dept, but don't know whether anyone will read it. Only other option I can see is to move mortgages, but theres a fair amount of fees involved in that. I'd rather not move, but I'm so angry with them.

poundstretcher1234

I received communication via e-mail from SL regarding this fiasco.

Unfortunately, i didn't find this thread in my searches and so i created a new thread (below) with my initial complaint (submitted via their website) and their response, announcing a scandalous 0.8% rate cut for SVR customers...

http://forums.moneysavingexpert.com/showthread.html?p=16589253#post16589253

What infuriates me further is the announcement that this won't kick in until 31/12/08. Which means that we still have to pay up at 6.59% until NEXT YEAR! I'M BLOODY FURIOUS!!

My next course of action is to contact Number 10 and get some sort of petition going...

JohnnyM_2

Who can consumers complain to over this?
Do we have a right to complain?
I have called SL and complained but I cant see that it will do any good. I cant see them changing their mind.

dunstonh

Who can consumers complain to over this?

Complain about what?

Do we have a right to complain?

You can complain about anything. maybe you dont like their logo. Of course, it doesnt mean they have to do anything though and the FOS will not support your case as they have no remit in the area of commercial decisions.

Coppers_2

49 responses so far..SL must have 100 times this amount of customers on their SVR so lets keep it up.

Dunstioh...you are right, a lot of SL mortgages are based on the LIBOR rate which has been decreasing for the last 2 months...http://www.swap-rates.com/UKSwap.html

Many lenders mortgages are based on these but have much lower SVRs?...anyway...keep up the pressure guys!

aintauri

treliac wrote: »

Then why write as if you were talking to other posters?



I'm just surprised that you are surprised :rolleyes:

And am I not supposed to write as if I were talking to other posters? Everyone has an opinion they are entitled to share. I am not surprised by human nature. Thank you for your comments.