nationwide tracker mistake

andy15959

I got a nice suprise this morning, a letter from Nationwide saying thet were passing on the 0.5% rate cut from this month. Iam on a liftime +.44% tracker with a 2.75% collar. Is this a mistake or as anybody else had 1 ? No metion of the collar in the letter either.

andy15959

surely i cant be the only 1 ?

Damo1176

I got one the other day saying they weren't passing it on and I'm on the +0.75 tracker

cloud_dog

andy15959 wrote: »

I got a nice suprise this morning, a letter from Nationwide saying thet were passing on the 0.5% rate cut from this month. Iam on a liftime +.44% tracker with a 2.75% collar. Is this a mistake or as anybody else had 1 ? No metion of the collar in the letter either.

Are you sure it said they were passing on the reduction. I think you;ll find that it explains that whilst they did pas on the previous reduction below the collar they will not be passing on the latest cut for mortgages with collars above the rate.

jacko43

My letter from alliance and leicester arrived this morning states my new rate as 2.250% no mention of a coller need to check my original docs but could this be a mistake

Fliss_M

jacko43 wrote: »

My letter from alliance and leicester arrived this morning states my new rate as 2.250% no mention of a coller need to check my original docs but could this be a mistake

Alliance and Leicester dont have collars so that is correct

NoobySaver

I too got a letter this morning from Nationwide. I am on a 2 year tracker, with 2.75% limit clearly shown (well 2.68% for me), I managed to get a .07% below rate (October 2007) and have been shown my rate today is coming down to 1.43% along with my new payment amount that will effective from the 1st of February. I must say it came as a shock and I am now waiting for tomorrows post for the correction. Having said that I have filed today's letter very carefully!

andy15959

nope deffinatly says passing the cut on last moth was 2.44% new rate 1.94% and no mention of the 2% collar

gillian46

I've had a letter today from the Nationwide saying they are passing on the 0.5 base rate reduction. I am on a 2 year tracker with the 2.75 collar. Maybe Nationwide changed their minds about not reducing trackers any more?

Richardcardiff

Me too. I'm on +0.24% tracker due to expire Sept 09. I wasn't expecting to get the tracker rate cut but received a letter this morning saying I'd be on 1.74% on Feb 1st. Well done Nationwide! Mutuals rule!

lizzie_dripping

I got a rate change letter from Nationwide today with the 0.5% reduction.

The website says that they are keeping the tracker floor at 2% though.