Alliance & Leicester Standard Variable Rate

dvs

MarkyMarkD wrote: »

Whilst the point you make is a good argument, I'm not sure it's valid. AFAIK Dunfermline borrowers are now members of Nationwide, just like Dunfermline and Cheshire borrowers.

The reason Nationwide gave for having the same rate across the different brands is because it was a requirement by law. I don't know how the take over of the Dunfermline is different to Nationwide's take over of the Derbyshire BS and Cheshire BS. Perhaps the Government or the FSA dropped this requirement or the takeover has special implications or instructions.

Mitnie

Check out the 'financemarkets.co.uk' website and the post of 24 March 2010 regarding Coventry's absorption of Stroud:

"Mortgage borrowers on Stroud & Swindon Building Society’s standard variable rate (SVR) can expect to see their monthly repayments reduced once the mutual is absorbed by the larger Coventry Building Society.
In an announcement confirming the merger, Coventry says its financial strength will deliver an “immediate benefit” for many Stroud & Swindon members.
The statement reads: “Those borrowing members currently paying or linked to Stroud & Swindon’s residential standard variable rate of 5.99% will benefit from a substantial reduction in their mortgage payments as they move onto Coventry’s lower SVR of 4.74%.”

If a couple of buidling societies can manage this, I fail to see why two much bigger banks can't do the decent thing and commit to a single SVR.

Thrugelmir

Mitnie wrote: »

If a couple of buidling societies can manage this, I fail to see why two much bigger banks can't do the decent thing and commit to a single SVR.

Deposit rates? Stroud and Swindon.

Min Investment Amount

Investment Amount
Gross (%)
AER (%)
Net (%)
£1,000
£200,000 to £350,000
0.75
0.75
0.60

£50,000 to £199,000
0.60
0.60
0.48

£25,000 to £49,999
0.55
0.55
0.44

£1,000 to £24,999
0.50
0.50
0.40

0.75% on £350k :eek: