MSE News: Co-op to raise standard mortgage rate

Consumerist

Thrugelmir wrote: »

Turkish Lira.

Thanks. I had to Google that one - thought they all went with the Euro but forgot about Turkey.

I was curious about the 11% return too. Must be quite risky especially with exchange-rate complications and foreign tax considerations.

I did find this <Guardian article> reporting that sort of return but it seems a bit too rich for my blood.

Thrugelmir

Consumerist wrote: »

Thanks. I had to Google that one - thought they all went with the Euro but forgot about Turkey.

I was curious about the 11% return too. Must be quite risky especially with exchange-rate complications and foreign tax considerations.

I did find this <Guardian article> reporting that sort of return but it seems a bit too rich for my blood.

My motto "If it looks to good to be true then it probably is".

de1amo

today's rate is 2,84 and i transfered at 2,92---i followed the rate!

11pc is low for turkey--i have seen 18pc with an exchange rate of 2,76

Consumerist

Just out of curiosity, do you pay tax on the interest in Turkey, in the UK or a bit of both?

de1amo

Yes the tax is paid at source at a rate of 15pc. This means you need a turkish tax number and they have tightened up on the criterior now.--my wife is Turkish!
if the money is repatriated then the uk tax man is advised

sonny_c

Consumerist wrote: »

But it seems odd that they have, nonetheless, declined your application for a current account. You really should find out why.

Got my credit report from Experian and Equifax. My Experian credit score was 999 (excellent) but had a default 22/06/2007 from British Gas which was resolved in 2007 which I have asked to be corrected. This default was not shown on Equifax.

In the mean time my O/H has opened a Co-Op bank account to benefit from the better mortgage deals offered and went for a 5 year fix at 3.39%

I see this term + others have been removed for existing current account customers as they only offer 2 years fix at 3.36%

thor

apt wrote: »

Not sure it is good news for savers. Look at the rates Coop/Britannia are offering. More likely Coop is after bigger margins so it can attract investors to back its proposed acquisition of Lloyds branches.

Also don't forget that big fat payrises for the board doesn't grow on trees you know. It looks like now their borrowers are going to start to take their licks as well as their loyal savers. They have rubbish saving rates which I am betting won't increase even after mortgages go up and I am glad I got out a few years ago.

HAMISH_MCTAVISH

thor wrote: »

Also don't forget that big fat payrises for the board doesn't grow on trees you know. .

Yep.

Greedy bankers increasing profits.

HAMISH_MCTAVISH

Consumers should check their mortgage contracts carefully.

In some cases, changes to the rate may be unfair/illegal.

https://forums.moneysavingexpert.com/discussion/3920181

HAMISH_MCTAVISH

Consumers should check their mortgage contracts carefully.

In some cases, changes to the rate may be unfair/illegal.

https://forums.moneysavingexpert.com/discussion/3920181