Has anyone seen this yet:
http://forums.moneysavingexpert.com/showthread.php?t=4470099
Will likely get a lot of press coverage over the next few weeks.
It appears that it only impacts a loan-book they bought from Bristol and West where the T&C's were such that they are able to do this.
I find it interesting because, where banks are currently turning blind eyes to conditions such as Danske Banks condition where they can change your rate if your LTV exceeds 80% during the term of the mortgage, they may not in the future.
The first banks to take such action will get a very bad name. The ones that follow will also get bad publicity but not to the same extent.
http://forums.moneysavingexpert.com/showthread.php?t=4470099
Will likely get a lot of press coverage over the next few weeks.
It appears that it only impacts a loan-book they bought from Bristol and West where the T&C's were such that they are able to do this.
I find it interesting because, where banks are currently turning blind eyes to conditions such as Danske Banks condition where they can change your rate if your LTV exceeds 80% during the term of the mortgage, they may not in the future.
The first banks to take such action will get a very bad name. The ones that follow will also get bad publicity but not to the same extent.