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Royal Bank of Scotland says it will not cut its SVR which is 4%
chrissoton
Posts: 9 Forumite
[EMAIL="F#@k/$g"]F#@k/$g[/EMAIL] thieves
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Not really - they're not obliged to pass on the cut so in what way are they stealing from you?0
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I can't believe that people are actually moaning about having to pay 4% on their mortgage! You should be thankful the rate isn't 15 bloody percent , as it has been in the not too distant past - you'll really have something to compain about if it reaches that level again.
I feel sorry for people retiring this year and trying to find a half decent annuity with a pension pot that's probably halved in value.
If you think you're hard done by now, god help you in a few months when rates shoot up again. Get a grip."There is a light that never goes out"0 -
4% isn't bad, really.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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It is likely that RBS will be trying to protect savers and not robbing from anyone! A SVR of 4.00% is low enough...what is a travisty is savings rates of less than 1.00%!!0
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This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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I must say I have some sympathy with the OP. If they were going up as quick as they are coming down, I bet they wouldn't be saying " We are not raising our rates in line with the recent rise" ;-)0
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but as someone pointed out to me recently - the SVRs can't always go up in line, and come down less - as sooner or later the margin grows too wide. I predict that if rates rise by 3% over the next 3 years - that the average SVR will actually only go up by 2-2.5%0
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I am currently with Northern Rock and am paying 6.99% until September 2009.
Northern Rocks SVR is currently 4.79.
If it is 4% by September I will be overjoyed.
I would not really expect it to go any lower considering the government intervention etc.
RBS is in a very similar position.0 -
but as someone pointed out to me recently - the SVRs can't always go up in line, and come down less - as sooner or later the margin grows too wide. I predict that if rates rise by 3% over the next 3 years - that the average SVR will actually only go up by 2-2.5%
Yep this is likely. I mean we all know how trustworthy the banks are ;-)0
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