ECB Rate Cut


I presume that Halifax havent passed on this latest cut at all to variable customers?

I`ve just changed my mortgage to them in the last few weeks as my last provider was passing on very few of the recent rate cuts. Now they have stopped passing them on lol.

Still a much cheaper rate than my last provider though.
 
To tracker mortgage holders? - Yes they have to. Unless there is a clause in the mortgage contract stating a floor for the rate, but I don't think there is.
 
Verdun said:
I think its crazy that banks are so slow to pass on rate cuts. I think EBS said they are passing on the lastest cut
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please be advised,
the rate reduction announce on the 7th of may, was not implemented by the ecb on that day.
the new rate is only applicable on the ecb system from today.

so if your contract for a tracker says the rate will be reduced within 7, 10, 20, 30, 60, days of a rate reduction, they have from now till the period outlined in the contract expires to reduce your rate.
 
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