Kensington SVR

fedupwithbankers

Hi there,

I was wondering if someone can help me please? Does anyone know what Kensington's SVR is at the moment? My sister's fixed 3 year deal finishes in July this year - so am just trying to help her out with some info.

Thanks so much!

Fred

VIGILANT22

fedupwithbankers wrote: »

Hi there, I was wondering if someone can help me please? Does anyone know what Kensington's SVR is at the moment? My sister's fixed 3 year deal finishes in July this year - so am just trying to help her out with some info. Thanks so much! Fred

Fred...Ask her to dig out her paperwork as it will be on there...failing that if you call Customer Helpline on 0845 199 2222. Monday to Thursday 8:30am – 8.30pm Friday 8:30am – 5.30pm.

I would imagine that it would be the libor rate plus a %

fedupwithbankers

VIGILANT22 wrote: »

Fred...Ask her to dig out her paperwork as it will be on there...failing that if you call Customer Helpline on 0845 199 2222. Monday to Thursday 8:30am – 8.30pm Friday 8:30am – 5.30pm.

I would imagine that it would be the libor rate plus a %

Hey Vigilant22

Thanks. The paperwork say 7.5% but I'm assuming with rates down (Mortgage was taken out at the peak of the rate cycle! doh) - it should not be that high surely???

Appreciate any light that can be thrown on this by any Kensington people or customers.

VIGILANT22

Are you saying it is Libor plus 7.5%?.....

scrounger_2

:eek: Surely not!

VIGILANT22

yes it is possible...this will have been a sub prime/adverse deal......as at that time Kensington were sub prime lenders........

The current revisionary rate is libor + 4.10 = 4.8%

https://intermediary.kmc.co.uk/knet/Products/ProductGuides/Prime/Product%20Guide.pdf

fedupwithbankers

THANKS VIGILANTE!

So it's basically 0.61 (current Libor) plus 4.1% now? or is that figure they have from November, going to stick until they decide to change things up?

Thanks

VIGILANT22

No, I fear that post has confused matters...look at the paperwork again..
It will tell you something like this "once you end your fixed/discounted rate your rate will revert to.............
if it says libor plus 7.5%,it will be 8.2%.....

fedupwithbankers

VIGILANT22 wrote: »

No, I fear that post has confused matters...look at the paperwork again..
It will tell you something like this "once you end your fixed/discounted rate your rate will revert to.............
if it says libor plus 7.5%,it will be 8.2%.....

WOW it does say 7.5% - shoot so she will pay 8.2%

wow. What advise would you suggest I give her? I really don't think I know what to say to her. So that amount just does not change despite things being crap out there right now? As in says that in the contract but I thought it would come down, not stay up.

Sorry I know I am being rather stupid with these questions but I respect your advise and knowledge. So better to ask you lot, than pretend I know what I'm talking about.

Cheers

pwllbwdr

Can you post on here the exact wording. There's a big difference between "LIBOR plus 7.5%" and "LIBOR plus 3% - currently 7.5%" for instance.

happybroker

fedupwithbankers wrote: »

WOW it does say 7.5% - shoot so she will pay 8.2%

wow. What advise would you suggest I give her? I really don't think I know what to say to her. So that amount just does not change despite things being crap out there right now? As in says that in the contract but I thought it would come down, not stay up.

Sorry I know I am being rather stupid with these questions but I respect your advise and knowledge. So better to ask you lot, than pretend I know what I'm talking about.

Cheers

it's good that you are trying to help your sister but I feel she may be better getting some professional advice.