RBS Historic SVR Rates - help

pennydunn

Bit of a nightmare with our RBS mortgage which is due to end today. All sorts of problems including RBS not being able to find it. But 1 issue is it looks like we have been over charged when interest rates have been changed. Is there anywhere that lists SVR historical rates ? RBS can’t help 

ACG

What does your mortgage offer state? If it is linked to the bank of england base rate you only need to know what the bank of england base rate did. Usually I think RBS changed the rates within 30 days of that changing. 

pennydunn

We should be .75% below SVR but we know from our recent statement we are being over-charged, so want to review all years. This isn’t the only issue we have .....

ACG

I think all lenders had something that basically said anything below the bank of england base rate would have a floor limit of 0% as there is nothing in the T&Cs to say they would pay interest. 

My point was though if you get a list of the bank of englands base rate changes, you have what you need so does not matter if RBS have anything or not. The only slight anomyly would be when they changed the rate as I think it would usually be changed within 30 days of the bank of england base rate changing, but that would not make a huge difference if you were a few days out each time it changed.

Thrugelmir

pennydunn said:

We should be .75% below SVR but we know from our recent statement we are being over-charged, so want to review all years. This isn’t the only issue we have .....

That's unusual. Trackers normally track BOSE base. SVR being a higher rate than often is less frequently changed and doesn't necessarily track all BOE movements. 

grumiofoundation

Thrugelmir said:

pennydunn said:

We should be .75% below SVR but we know from our recent statement we are being over-charged, so want to review all years. This isn’t the only issue we have .....

That's unusual. Trackers normally track BOSE base. SVR being a higher rate than often is less frequently changed and doesn't necessarily track all BOE movements. 

We are also on a variable rate that is a discount from SVR (having checked historically SVR of the building society from what i can find has tracked BOE base rate - BOE + 3.99% - although not immediate change)

getmore4less

This information should have been on your annual statements and the letters they sent whenever it changed.

It is quite important to keep all mortgage related correspondence as things can come to light years later.

The margins on SVR over BOE have changed over the years so even if it did track BOE you might still need more information.

  
There is a chance you may find  data points with some google searches for articles  depends how far back you need to go.

Another approach is web archives of pages than might have the rate mentioned

pennydunn

Thanks for all replies. I’ve managed to find details on BofE website for historical information. We’ve now emailed RBS CEO regarding all our issues and have received an initial reply so hopefully it will be resolved soon