when is halifax going to do some decent mortgage rates?

tarifa1234

I spoke to HBOS yesterday to find out why I have not benifeted from the rate cuts. I am on a standard vairiable rate. The bank told me that they would not pass on any rate cuts, as it was upto them. I contacted the FSA who informed me that they are now looking a banks who do not pass on the rate cuts. Please everyone contact the FSC about this as only the massas can force the banks to act in the way the bank af England and the goverment intended. After all its our money we lent them to help us the customer out.

beecher

tarifa1234 wrote: »

I spoke to HBOS yesterday to find out why I have not benifeted from the rate cuts. I am on a standard vairiable rate. The bank told me that they would not pass on any rate cuts, as it was upto them. I contacted the FSA who informed me that they are now looking a banks who do not pass on the rate cuts. Please everyone contact the FSC about this as only the massas can force the banks to act in the way the bank af England and the goverment intended. After all its our money we lent them to help us the customer out.

Eh? The HBoS SVR is 3.5% - how have you not benefited from the rate cuts? They've halved since October.

opinions4u

tarifa1234 wrote: »

I spoke to HBOS yesterday to find out why I have not benifeted from the rate cuts. I am on a standard vairiable rate. The bank told me that they would not pass on any rate cuts, as it was upto them.

Halifax have passed on all or part of every BofE rate cut since the back end of last year. A lender's SVR doesn't have to track the BofE rate unless the lenders terms and conditions specifically state that it will. At 3.5% the Halfiax SVR is one of the lower rates. Which part of HBOS do you owe money to? I would expect higher rates to be charged to buy-to-let or sub-prime customers, especially at TMB or BM.

I contacted the FSA who informed me that they are now looking a banks who do not pass on the rate cuts.

They can look, but if they choose to act they could potentially put a number of lenders out of business.

Please everyone contact the FSC about this as only the massas can force the banks to act in the way the bank af England and the goverment intended.

Who are the FSC? And why do you want lenders to lend at a loss? Loss making banks aren't a good idea.

After all its our money we lent them to help us the customer out.

How much have you personally handed over? The money isn't to help the customer out anyway, it is to save the banking system from collapse which would have massive ramifications for our economy if it was ever allowed to happen. In what way does it help bank customers if banks collapse as a result of poor lending margins?

the_root_of_all_evil

all this waffle doesnt help people who fixed at 6% for years to come.

its painfull to see all around getting 2.99 deals, halifax used to be very competitive but now its a joke.