Is your bank passing on the cut?

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  • Anastasia
    Anastasia Posts: 286 Forumite
    First Anniversary Combo Breaker
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    Alliance and Leicester - Yes! Letter this morning - from 1st December.
  • LongTermLurker
    LongTermLurker Posts: 1,996 Forumite
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    AXZ222 wrote: »
    Egg passing on cut in december. Goes to 3.99%
    Is that on the SVR? Where did you read that?

    Ah no - I think you're talking about the tracker. That's not a benefit, they have to pass it on for a tracker.
    You've never seen me, but I've been here all along - watching and learning...:cool:
  • bainy
    bainy Posts: 126 Forumite
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    Bradford and Bingley are passing on the full 1.5% as from the 7th December, a funny date to cut should have been from the 1st.SVR will fall to 5.59% from 7.09%.Confirmed by telephone.
    Cheers
    ;)
    Bainy

    2009 Winnings: - 15.6" Dell Inspiron Laptop
  • thrifty2009
    thrifty2009 Posts: 12 Forumite
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    Had a letter the other day saying my Halifax mortgage will be going from 6.5% down to 5% in December.
    Mortgage owed = -£64,023.45

    2009 mortgage savings £0
  • Big_Bear_Phil
    Big_Bear_Phil Posts: 1 Newbie
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    Skipton Building society's SVR

    No - under review for the last 2 cuts which is 2%

    Thanks Skipton
  • Johnk1
    Johnk1 Posts: 24 Forumite
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    herbiesjp wrote: »
    Effective 1 December 2008, Chelsea Building Society standard variable rate will reduce to 6.94% with a further reduction to 5.79% effective 31 December 2008.

    Hope this helps any Chelsea customers on SVR

    Can I ask where you read this? I am not in the UK so my letters from Chelsea take a while to reach me - been checking their website and it states that their SVR is 7.24% (page last updated on 17th Nov)?
  • LongTermLurker
    LongTermLurker Posts: 1,996 Forumite
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    LongTermLurker wrote: »
    Originally Posted by AXZ222 viewpost.gif
    Egg passing on cut in december. Goes to 3.99%
    I think you're talking about the tracker. That's not a benefit, they have to pass it on for a tracker.
    Confirmed with Egg that they will be reducing the SVR by 1.5% in December, which will take effect from January's payment. That will bring the rate down to 5.29%, which I'm quite happy with.

    Slow though, damn slow :mad:
    You've never seen me, but I've been here all along - watching and learning...:cool:
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
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    Johnk1 wrote: »
    Can I ask where you read this? I am not in the UK so my letters from Chelsea take a while to reach me - been checking their website and it states that their SVR is 7.24% (page last updated on 17th Nov)?

    Email received from them 20/11/2008

    One of the usual broker update emails
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Frugal_Moose
    Frugal_Moose Posts: 303 Forumite
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    Yes, Barclays Lifetime Tracker which is Base rate + 0.89%. I am told there is no collar so hope it keeps on shrinking.
  • Johnk1
    Johnk1 Posts: 24 Forumite
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    herbiesjp wrote: »
    Email received from them 20/11/2008

    One of the usual broker update emails

    Great, thanks for responding.

    John.
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