Hi Brendan, I understood that the 2.3% 2 year rate was also available to them as there is no LTV criteria?I thought it would be of help to those in negative equity who could not switch because their LTV was >90%, but now I see that this is limited to <90% LTV, so it's no help to them either
I understood that the 2.3% 2 year rate was also available to them as there is no LTV criteria?
No, and apologies if wording above is confusing - I initially misread it. They have kept SVR untouched, and created a new rate. So it doesn't impact any SVR linked rates.This could be a big saving to anyone on the loyalty variable rates as it was 1.2% below SVR (3.1 to 2.7% in some cases)
LTV | Variable Rate | Loyalty Discounted Variable |
Up to 60% | 3.50% | 3.10% |
Up to 80% | 3.70% | 3.20% |
Up to 90% | new 3.90% from 11th JulyWas 4.30% | 3.60% |
the LTV seems to at odds with their press release at the time:
No, I think they just screwed up the press release! I think they meant it for new business only.Very interesting.
View attachment 3914
It seems that Their LTV bands stop at 90%. Anything above that is not in a band?
Brendan
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?