We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Who is passing on the new rate reduction?

123457

Comments

  • So NR will be 4.34now MPD? As of when?
  • koexelek
    koexelek Posts: 7,847 Forumite
    MPD wrote: »
    Got the letter from NR yesterday, they are cutting their SVR by 0.45%. For some reason they haven't announced this on their website and the BBC hasn't run it's usual "who's passed the cut on" story this time.


    Surprised at that.

    considering they are actually choosing to pass on a rate cut for one, I would have thought they would have been shouting it from the rooftops:rolleyes:
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Leew1231
    Leew1231 Posts: 92 Forumite
    HSBC have told me today that they have no plans to pass on the latest BoE cut on there SVR. They said the rate decrease will only be passed on, on there tracker deals. Which I don't have!
  • MPD
    MPD Posts: 261 Forumite
    Part of the Furniture 100 Posts
    CocoPops wrote: »
    So NR will be 4.34now MPD? As of when?

    For most yes, for me (svr - 1.35%) it's 2.99% but only until 1st Nov. The new rate comes into effect 1st April.
    After years of disappointment with get-rich-quick schemes, I know I'm gonna get rich with this scheme...and quick! - Homer Simpson
  • kieran1979
    kieran1979 Posts: 42 Forumite
    MPD wrote: »
    For most yes, for me (svr - 1.35%) it's 2.99% but only until 1st Nov. The new rate comes into effect 1st April.

    Hey all,

    Can anyone else shed any light on this "rumour" that Northern Rock have reduced their SVR to 4.34% ??

    Still nothing on their website/BBC - and I've had no letter.

    I hope it's true but won't believe it until I see it!

    Cheers.
  • maemaesmummy
    maemaesmummy Posts: 2,474 Forumite
    was wondering the same myself....:confused:
    Bit of a Florida Fan :j
    8/12/08 Highlands Reserve, 3/12/09 Calaby Parc
    18/8/10 Villa Upper Class 19/12/10 Villa Upper Class
    10/08/11 C P Tower Lake 10/12/11 C P Tower Lake
    28/4/12 Emerald Island 22/7/12 Florida for 6 weeks
    13/12/12 4 weeks C P Tower Lake 13/2 Prize win Orlando
  • co123456
    co123456 Posts: 368 Forumite
    Mortgage-free Glee!
    MPD wrote: »
    The new rate comes into effect 1st April.

    Is that supposed to be funny? :rotfl:
  • michaels
    michaels Posts: 29,223 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Leew1231 wrote: »
    HSBC have told me today that they have no plans to pass on the latest BoE cut on there SVR. They said the rate decrease will only be passed on, on there tracker deals. Which I don't have!

    Greedy barstewards
    I think....
  • evanevan
    evanevan Posts: 5 Forumite
    No, NR have not made a decision yet. The SVR stands at 4.79%.
  • MPD
    MPD Posts: 261 Forumite
    Part of the Furniture 100 Posts
    Is that supposed to be funny? :rotfl:

    No, it's supposed to be what it says on the letter. It may just be me (or at least a small group like me). The previous reason for change stated was "Rate Change", the reason stated this time is "Base Rate Guarantee".

    I'll check my policy document and see if I can shed any more light on this. I guess the svr may not be changing after all, but my rate is going down tomorrow.
    After years of disappointment with get-rich-quick schemes, I know I'm gonna get rich with this scheme...and quick! - Homer Simpson
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.