abbey svr

SargentCJ

I'm with you ohmsoft, sounds like feisty had some sherry left over from Christmas, drank it and got a bit punchy with his/her posts rather than pick a fight in the real world.

Your answers were concise and informative. Thank you for explaining the LIBOR link to interest rates. It makes a little more sense to me now.

Sarge

space_rider

When I took out my abbey mortgage just over 2 years ago the quote said that after the 2 years my mortgage would revert to 7.38. That is what I budgeted for, anything less is a bonus.

Tom. Why didn`t you change your product to a tracker before your last deal ran out. The deals Aug/Sept were much better than they are now.

jayremoh

any news on latest cut affecting the abbey svr from 4.94?

beecher

Keep an eye on this link

http://news.bbc.co.uk/1/hi/business/7711689.stm

Still under review according to the article, but it should be updated when they make an announcement.

londoner08

I believe it is currently 4.94%.

System

It's coming down to 4.69%

jayremoh

rubbish, first direct for me now then...

pedgepuk

Right, now I don't know if Abbey has made a mistake here but a few of you have mentioned that they only chopped 0.25% off the SVR from the last BoE rate cut.

This morning I received a letter from Abbey and to my amazement they cut 1% off from the last rate cut.

So last month I was on 4% and now i'll be on 3%.

I am so glad that I decided not to go on to a new deal since my last one finished in March 07. During that period my mortgage had peaked at 6.75% and had to change to interest only.

Now the question is should I revert back to repayment to clear down the debt a little?

Father_Christmas

You must'nt be on abbeys standard SVR which was 4.94 before latest cut. In last couple of years it peaked at 7. something.

space_rider

pedgepuk wrote: »

Right, now I don't know if Abbey has made a mistake here but a few of you have mentioned that they only chopped 0.25% off the SVR from the last BoE rate cut.

This morning I received a letter from Abbey and to my amazement they cut 1% off from the last rate cut.

So last month I was on 4% and now i'll be on 3%.

I am so glad that I decided not to go on to a new deal since my last one finished in March 07. During that period my mortgage had peaked at 6.75% and had to change to interest only.

Now the question is should I revert back to repayment to clear down the debt a little?

Are you on a tracker? Abbey are really slow at sending letters to inform of rate reductions. I`ve only recently had the letter for the December rate cut.