UK’s ‘bad bank’ warns 1% rate rise could sink 15,000 customers

Thrugelmir

Malthusian wrote: »

Plenty of their contemporaries did get into debt.

Wasn't down to their ability to gain easy credit or over borrow though. While being in employment.

MSE_Katie

Hi, has anyone ever tried to switch away from a Bradford and Bingley mortgage? I work in MSE's campaigns team and am looking to speak to B&B mortgage holders (whose loans have now been sold since its collapse), who've tried to switch to a better deal and couldn't. More on this here - https://forums.moneysavingexpert.com/discussion/5872255/bradford-bingley-mortgage-and-tried-to-switch&highlight=bradford+bingle y

AnotherJoe

MSE Katie, you appear to have posted on the wrong thread?

Thrugelmir

AnotherJoe wrote: »

MSE Katie, you appear to have posted on the wrong thread?

The very people that might well be impacted by rising interest rates.

MSE_Katie

AnotherJoe wrote: »

MSE Katie, you appear to have posted on the wrong thread?

There's some discussion on this thread of high interest rates on mortgages for those with defunct mortgage lenders such as Bradford and Bingley. I'm wondering if anyone viewing this thread has found themselves stuck on those interest rates and unable to switch. Hope that makes more sense!

AnotherJoe

If you want people who have been affected by Bradford and Bingley mortgages to respond, what's more likely to get a response ?
1. A thread headed "Bradford and Bingley mortgage?" and the first post details the question ?
2. A thread headed "UKs bad bank" which when you start reading is more than a year old, the first post is about an interest rate rise that didn't happen, and doesn't mention B&B until 36 posts in ?

antrobus

I'd simply note that is a year since this 'warning' that a "1% rate rise could sink 15,000 customers" and since we have not had a 1% rate rise we can only assume that they are all still floating.

MSE_Katie

AnotherJoe wrote: »

If you want people who have been affected by Bradford and Bingley mortgages to respond, what's more likely to get a response ?
1. A thread headed "Bradford and Bingley mortgage?" and the first post details the question ?
2. A thread headed "UKs bad bank" which when you start reading is more than a year old, the first post is about an interest rate rise that didn't happen, and doesn't mention B&B until 36 posts in ?

MSE_Katie wrote: »

Hi, has anyone ever tried to switch away from a Bradford and Bingley mortgage? I work in MSE's campaigns team and am looking to speak to B&B mortgage holders (whose loans have now been sold since its collapse), who've tried to switch to a better deal and couldn't. More on this here - https://forums.moneysavingexpert.com/discussion/5872255/bradford-bingley-mortgage-and-tried-to-switch&highlight=bradford+bingle y

As above - there is a fresh thread on this titled 'Bradford & Bingley mortgage and tried to switch?' - which I linked in my post. Just exploring other conversations as well.