C&g svmr

marrbett

No No No, don't say this!!!
We move onto the 2.5% rate in May, having been on a fix of 5.79% for 5 years. I was hoping for at least a year on 2.5% to overpay the interest only part. It must not, will not change!! Aaaargh.
Please give me some hope that things probably won't change for a while????

Thrugelmir

marrbett wrote: »

No No No, don't say this!!!
We move onto the 2.5% rate in May, having been on a fix of 5.79% for 5 years. I was hoping for at least a year on 2.5% to overpay the interest only part. It must not, will not change!! Aaaargh.
Please give me some hope that things probably won't change for a while????

Look on the bright side. You've a low interest rate. Overpay as much as you while interest rates are low. As these are exceptional times that will never be repeated.

marrbett

Thrugelmir wrote: »

Look on the bright side. You've a low interest rate. Overpay as much as you while interest rates are low. As these are exceptional times that will never be repeated.

Well, I was looking on the bright side til I read about this SVR maybe going up!! I've been counting down the months til I got to the 2.5%, and they aren't gonna snatch it away from me!!!Lol.

Grampus8

Thrugelmir wrote: »

If base rate were to be cut to .25% or lower then highly possible.

surely they could just keep it at 2.50% in this scenario?

Thrugelmir

Grampus8 wrote: »

surely they could just keep it at 2.50% in this scenario?

Breaks the "guarantee". So why stop there.

Once broken then easier to move rates as they wish.

Grampus8

Thrugelmir wrote: »

Breaks the "guarantee". So why stop there.

Once broken then easier to move rates as they wish.

I see. Sorry, I'm being a cretin!

Thrugelmir

Grampus8 wrote: »

I see. Sorry, I'm being a cretin!

Don't worry about it That's the positive side of the forum. Talking things through enables one to get a better balanced view.

I struggle to put even a shelf up!

Grampus8

True. I find there are few negatives really.

Many thanks for your help!

opinions4u

Thrugelmir wrote: »

Are some of the C&G branches being sold as part of the Co-Op deal?

The whole C&G network along with branch opened savings accounts and mortgages.

The original EU agreement stated that the C&G brand is not being sold though. Neither is the head office building or mortgages sold under the C&G brand that were never anything to do with the branch network.

What's being overlooked is that the Co-Op may well revise the SVR on mortgages taken over. As TMW did when acquiring the BOI mortgage book.

The TMW rate change appears to have coincided with the condition in BOI mortgages that removed the link to BBR at 31st March 2012.

As far as I'm aware, C&G, LTSB and IF mortgages don't have a similar get out clause for the lender.

Grampus8

I hope you're right, I have been diligently overpaying since I've been on it though. Desperately trying to get the LTV down.