Massive rate shock hits 100,000 MORE as Bank of Ireland and Bristol & West borrowers face.....

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Massive rate shock hits 100,000 MORE as Bank of Ireland and Bristol & West borrowers face.....

This is a duplicate of the Blog Entry made on 7th March 2012 20:52.

......50% Hike in their monthly payments Bank of Ireland and Bristol & West borrowers are the latest to have been delivered a mortgage rate...

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[Flossy]

Re: Massive rate shock hits 100,000 MORE as Bank of Ireland and Bristol & West borrowers face.....

I was just reading this as I opened my post to a letter from BOI to say my mortgage is going up in 2 stages.

It is are intention to increase our SVR, currently 2.99%, by 1.50% to 4.49% by September 2012. This change will be made in two stages:

From June 2012 SVR will increase by 1% from 2.99% to 3.99%
From September 2012 SVR will increase by 0.5% from 3.99% to 4.99%

I am gutted! I now have a bad credit file due to all the debts I had/have even if UE that I would not be able to remortgage and get a better rate as I would be looking at adverse mortgages at a ridiculous rate..

[mystery1]

Re: Massive rate shock hits 100,000 MORE as Bank of Ireland and Bristol & West borrowers face.....

If the svr is based on the BoE base rate then a challenge under s140 cca might be interesting.

M1

[oscar]

Re: Massive rate shock hits 100,000 MORE as Bank of Ireland and Bristol & West borrowers face.....

Feel sorry for all those with mortgages, as I can see many going into negative equity, but I would think its going to make it easier for FTBs as the market is likely to come down considerably - especially if other lenders follow suit.