T triplex Registered User Messages 134 8 Dec 2006 #1 hi, i have switched to halifax and the deal i signed up to was: 'rate of ECB +1% discounted by .55% for the first 2 years' by my calculations, this works out at: EBC rate of 3.25% plus 1.00% less 0.55% = 3.70% (the new ECB rate has not yet been passed on) however, halifax are calculating this as: rate of ECB +1% discounted by .55% for the first 2 years = 4.25% Which of us is right? no doubt it's the bank! any advice appreciated!
hi, i have switched to halifax and the deal i signed up to was: 'rate of ECB +1% discounted by .55% for the first 2 years' by my calculations, this works out at: EBC rate of 3.25% plus 1.00% less 0.55% = 3.70% (the new ECB rate has not yet been passed on) however, halifax are calculating this as: rate of ECB +1% discounted by .55% for the first 2 years = 4.25% Which of us is right? no doubt it's the bank! any advice appreciated!
A amofeeney Registered User Messages 36 8 Dec 2006 #2 obviosuly they are calculating of the new ECB rate? 3.5 % +1 = 4.5% less the .55 = 4.25
B bobk Registered User Messages 250 8 Dec 2006 #3 Check the loan offer again as they have both rates printed on it. One for the first 2 years and one for the remaining term. You should be on 0.45% above ECB and then you will revert to 1% above ECB after 2 years. Keep in mind that the ECB rate has now risen to 3.5 since yesterday so the rates are now 3.95% and 4.5%
Check the loan offer again as they have both rates printed on it. One for the first 2 years and one for the remaining term. You should be on 0.45% above ECB and then you will revert to 1% above ECB after 2 years. Keep in mind that the ECB rate has now risen to 3.5 since yesterday so the rates are now 3.95% and 4.5%
T triplex Registered User Messages 134 11 Dec 2006 #4 thanks for the replies! Halifax actually were not taking the new interest rise into account. I'll try again to get a straight answer from them! 3.95 seems right.. thanks again!
thanks for the replies! Halifax actually were not taking the new interest rise into account. I'll try again to get a straight answer from them! 3.95 seems right.. thanks again!