Help - Natwest Rip off

Blochy

Hi there,

In 2004 I took out an offset base rate tracker with Natwest which was .85% above the Bank of England rate.

I have just noticed that after 20 months, they added an additonal .05% on and it was .9 above BOE rate, and that 6mths after that the have now managed (without me fully noticing) to add another .05 and it is now .95% above BOE.

I have looked through my documentation and can see no mention of rate increasing, and believe I took out a BOE tracker for the lifetime of the Mortgage at .85%.

Has anyone else had this happen to them?

Obviously I will be contacting Natwest - but just wondered if anyone else out there had a similar product and maybe had not noticed?

Thanks
Blochy

Lomion

Sounds to me like it might actually be a Natwest Bank Base rate tracker and not a BoE one. Need to check exactly what it says that it's tracking

silvercar

Sounds odd as NatWest historically tracks the BoE base rate.

It certainly has done so for the last few months.

Check your paper work then phone the bank tomorrow.

My Natwest tracker has only increased when the BoE rate was increased.