Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 4th Jul 12, 10:45 AM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: ING Direct to raise mortgage SVR
    • #1
    • 4th Jul 12, 10:45 AM
    MSE News: ING Direct to raise mortgage SVR 4th Jul 12 at 10:45 AM
    "The bank will raise it standard variable rate for 4,500 borrowers in August..."

    Read the full story:
    ING Direct to raise mortgage SVR

Page 1
    • MoneySavingNovice
    • By MoneySavingNovice 4th Jul 12, 11:21 AM
    • 352 Posts
    • 367 Thanks
    MoneySavingNovice
    • #2
    • 4th Jul 12, 11:21 AM
    • #2
    • 4th Jul 12, 11:21 AM
    I guess that this does not apply to the ING Direct Flexable Mortgage, as this has in its T&C's the following:-

    The ING Direct Flexible Mortgage has a simple variable rate promise – we will be less than 0.9% above the Bank of England Base Rate, with any resulting changes to our interest rate coming into effect from the 1st of the following month.
    which means that the current rate is, 0.5% Bank of England Base Rate + 0.89% = 1.39%.

    It will be Interesting to see if they try and raise the rate for ING Direct Flexible Mortgage customers as well.
    • jobdone1
    • By jobdone1 4th Jul 12, 11:27 AM
    • 719 Posts
    • 540 Thanks
    jobdone1
    • #3
    • 4th Jul 12, 11:27 AM
    • #3
    • 4th Jul 12, 11:27 AM
    one word WHY
    • shortchanged
    • By shortchanged 4th Jul 12, 11:32 AM
    • 5,416 Posts
    • 8,597 Thanks
    shortchanged
    • #4
    • 4th Jul 12, 11:32 AM
    • #4
    • 4th Jul 12, 11:32 AM
    one word WHY
    Originally posted by jobdone1
    Firstly because they can. They can set their SVR at whatever rate they like.

    Secondly they had their credit rating downgraded so they are probably finding it more expensive to borrow therefore they are passing these costs onto their borrowers.
    Why are we here?......................because we are not all there.
    • Graham_Devon
    • By Graham_Devon 4th Jul 12, 11:53 AM
    • 53,565 Posts
    • 116,692 Thanks
    Graham_Devon
    • #5
    • 4th Jul 12, 11:53 AM
    • #5
    • 4th Jul 12, 11:53 AM
    Firstly because they can. They can set their SVR at whatever rate they like.

    Secondly they had their credit rating downgraded so they are probably finding it more expensive to borrow therefore they are passing these costs onto their borrowers.
    Originally posted by shortchanged
    Wasn't the recent QE (or whatever you want to call it, as they didn't want it called QE) supposed to stem this?
    • jobdone1
    • By jobdone1 4th Jul 12, 12:31 PM
    • 719 Posts
    • 540 Thanks
    jobdone1
    • #6
    • 4th Jul 12, 12:31 PM
    • #6
    • 4th Jul 12, 12:31 PM
    That is my point the greed that is going on is out of this world, Ordinary folk being led up a sleazy banking path
  • DannyboyMidlands
    • #7
    • 4th Jul 12, 1:16 PM
    • #7
    • 4th Jul 12, 1:16 PM
    Variation in variable rate shocker.

    What's the big deal? If you want a fix then get one. If you want a variable then get one of those.

    No point getting one type and then moaning that you don't have the T+C's of the other.
  • ILW
    • #8
    • 4th Jul 12, 1:50 PM
    • #8
    • 4th Jul 12, 1:50 PM
    That is my point the greed that is going on is out of this world, Ordinary folk being led up a sleazy banking path
    Originally posted by jobdone1
    Seems savings rates may be creeping up a bit. Can get 4% or so now. So cannot be all bad.
    • Conrad
    • By Conrad 4th Jul 12, 2:04 PM
    • 31,494 Posts
    • 55,821 Thanks
    Conrad
    • #9
    • 4th Jul 12, 2:04 PM
    • #9
    • 4th Jul 12, 2:04 PM
    one word WHY
    Originally posted by jobdone1

    Do you not read the news? Millions of savers have been complaining about overly low savings rates. It's not just borrowers they have you know.
    • Conrad
    • By Conrad 4th Jul 12, 2:05 PM
    • 31,494 Posts
    • 55,821 Thanks
    Conrad
    That is my point the greed that is going on is out of this world, Ordinary folk being led up a sleazy banking path
    Originally posted by jobdone1

    Sorry this so blinkered it's unreal. Millions of pensioners and others have been complaining at the greed of borrowers expecting such low rates. Do people only see an argument from 1 side?
    • jobdone1
    • By jobdone1 4th Jul 12, 3:17 PM
    • 719 Posts
    • 540 Thanks
    jobdone1
    Sorry this so blinkered it's unreal. Millions of pensioners and others have been complaining at the greed of borrowers expecting such low rates. Do people only see an argument from 1 side?
    Originally posted by Conrad
    people have lost their homes whilst bankers have creamed their millions, Tax payers now paying back to sort the banks i think people like you need a reality check
  • ILW
    people have lost their homes whilst bankers have creamed their millions, Tax payers now paying back to sort the banks i think people like you need a reality check
    Originally posted by jobdone1
    Anybody that lost their home because they couldn't afford 5% or so, should never have been buying in the first place. I am sick of teh whinging from people who ran up debts they now cannot afford to service, and just want to blame anyone else but themselves.
    • happenstance
    • By happenstance 5th Jul 12, 7:41 AM
    • 365 Posts
    • 300 Thanks
    happenstance
    people have lost their homes whilst bankers have creamed their millions, Tax payers now paying back to sort the banks i think people like you need a reality check
    Originally posted by jobdone1
    Are you for real?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

549Posts Today

5,408Users online

Martin's Twitter
  • Mini MSE is on half term next week, so I'm excited to be taking the week off to be daddy. As normal I'm signing of? https://t.co/G3366shWh1

  • I once blurted out on @gmb "Theresa May hasn't been given a poisoned chalice - she's been given a poisoned chalice? https://t.co/onfRbY3XVg

  • It'd be fascinating to know how history will judge Theresa May's premiership. Currently, it is hard to see it as a? https://t.co/eH77G0O9LA

  • Follow Martin