Interest Rate Decreases

notabene

Registered User
Messages
387
Letter notifying of a decrease just came out which is great but letter states rate is from 1st Nov. Dd due on 6th but will be as normal as they say that goes out prior to 1st Nov and they can't change it.

Rate only monitarily reduced from 6th Dec payment - can they actually say then that it's been reduced on 1st Nov -surely that isn't right as if it is direct debit for Nov should be adjusted to reflect?!
 
Yes they can say that. You are getting benefit in the daily interest charged from 1st November, but only the repayments from the following month are recalculated.
 
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