Crooks

gerdo

BigSteve1 the base rate is 0.5% so 0.5% + 2.0% = 2.5%

so how is your lender a crook? You got exactly what you were
promised.

Hooloovoo

bigsteve1 wrote: »

It really annoys me that I've been stuck on this crap 5 year fixed rate for 5 years now at over 5.6%.

When you took out the mortgage you had a choice of either a fixed rate (with a choice of term) or a variable rate.

You gambled, chose the fixed rate, but you lost because rates went down. Bad luck.

I gambled and chose a tracker, rates went down, I won. Good luck for me.

None of this makes them a crook.

You made a bad decision. Such is life.

Hooloovoo

_Andy_ wrote: »

I fail to see your issue.
They stated 'no more than 2% above' and as promised it's no more than 2% above. How does fulfilling their side of the contract make them 'crooks' or 'crap' exactly?

gerdo wrote: »

BigSteve1 the base rate is 0.5% so 0.5% + 2.0% = 2.5%

so how is your lender a crook? You got exactly what you were
promised.

I think the point the OP is making is that the phrase "no more than 2% above the base rate" implies that it could be anything between 0% above the base rate and 2% above the base rate.

We all know that the phrase is meaningless because in practise it just means that it will always be 2% above the base rate - never 1.9% above, or 1.5% above, or anything else.

So why don't they just be honest and call it "2% above the base rate"? Why the extra pointless words?

_Andy_

Appreciate your point however it still doesn't make the company 'crooks'.