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Scottish Widows Bank SVR, Follow Lloyds TBS or Not?
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letitcomedown
Posts: 40 Forumite
Scottish Widows Bank is, as I understand it, a wholly owned subsiduary of Lloyds but independently managed. Lloyds TSB gave an undertaking to reduce their SVR mortgage rate in line with the BOE base rate, and SWB did do also until January since when they have made no changes whatsoever. So currently, they are 1% out of line with the rest of Lloyds TSB.
Does anyone know what the deal is here? Are they obliged to follow the rest of Lloyds and are dragging their feet, or are they truly not bound by the dal with the government?
Does anyone know what the deal is here? Are they obliged to follow the rest of Lloyds and are dragging their feet, or are they truly not bound by the dal with the government?
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I note today they updated their site with the further interest rate cut of today, but again no word on their SVR. Becoming quite annoyed and will be giving them down the banks tomorrow!!!0
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