4.0%??

Sir_Leslie_Phillips

I say dear Money People!

Well hellloooo, Ding Dong! Was hoping that some good folk may have some good advice?

My fixed term period is coming to an end (am with RBS) and have received a letter to say that I'll be going into a variable mortgage based at 4.0%. Can't find my letter from 3 years ago before going into a fixed deal, but is this a tad high given the current interest rate?
I guess I thought that it may have been 2%ish above the base rate.....
Wishful thinking methinks!

_Andy_

If it is a standard variable rate (SVR) then the rate can be whatever the bank choose it to be.

Fliss_M

I guess I thought that it may have been 2%ish above the base rate.....
Wishful thinking methinks!

In a word.....yes! And your letter wont matter unless it states a special rate, like a tracker.

Sir_Leslie_Phillips

Ho-hum!

many thanks for the replies, alas, not what one was hoping for. Nevermind, will look for a better option.

davidla

Sir_Leslie_Phillips wrote: »

I say dear Money People!

Well hellloooo, Ding Dong!

I have nothing useful to add except that the above made me laugh.

David

dimbo61

Hsbc doing 5 year fix at 4.24% fee £899
Post office 5 year fix at 4.45% fee £599
Both good long term deals !!
I say nice name !!!