Mortgage Rates - Screwed us again... What your story?

[Flossy]

One million homeowners hit by mortgage rate rise... and there's more pain on the way
850,000 Halifax borrowers affected by move that will see many mortgage repayments rise by £40 a month
Others lenders set to follow suit in coming months
Rises due to difficulties borrowing from European money markets caused by financial crisis
Hike in interest rates expected to add £300m to UK mortgage repayments over course of 2012
Council of Mortgage Lenders say repossessions set to rise by 22 per cent


Read more: http://www.dailymail.co.uk/news/arti...sts-loans.html

I am posting this as it will affect many people who are struggling already and I am one of them! I am with the BOI and I cant change Mortgage Companies due to my current 'debts' registered in my credit file.

My Mortgage has gone up by £171 thats just the first stage in July and the next in September of a further 0.5%. I really do not know how I will manage as I am on the bread line as it is due to my health and being unable to work any more.

I am furious about this as we have bailed the banks out so many times and now they have been given a massive boost of Billions! I have no idea how to survive this one and am going to try and do something?????

If anyone has the same issues or has tackled your Mortgage Company regarding this please let me know your story.

[pompeyfaith]

Re: Mortgage Rates - Screwed us again... What your story?

Yes I am one of them with a Halifax mortgage, what gives them the right when the base rate is still at an all time low of 0.5%.

Due to the libor rate fixing I am wondering if this will have any impact on Halifax/BOS lending rates and if so if these increases can be challenged.

[Flossy]

Re: Mortgage Rates - Screwed us again... What your story?

Yes I am one of them with a Halifax mortgage, what gives them the right when the base rate is still at an all time low of 0.5%.

Due to the libor rate fixing I am wondering if this will have any impact on Halifax/BOS lending rates and if so if these increases can be challenged.

Hi POP

I am thinking the same. I didn't think they would actually do this after the fuck up with Barclays and LIBOR fixing....

Its crazy as like you, am paying a ridiculous amount of money out that should be going down and not up!

I wonder if it can be challenged too.... I just cant get over the amount of money I have just paid out and now I have no money at all to pay the other DD's going out in the next few days... Im so angry...

[Flossy]

Re: Mortgage Rates - Screwed us again... What your story?

The base rate is low for a reason and that reason is that people can not manage in this crisis that we are going through... Yet the Banks have been allowed to hike their Mortgages making many more people predicted to loosing their homes in the next 12 months. It will be a record high of repossessions!

The government are doing what about it???? F*** all.... yet they let us bail out the banks and then print billions of money which is suppose to help the public?????

[Undercover Elsa]

Re: Mortgage Rates - Screwed us again... What your story?

The Halifax will jump on ANY opportunity to screw their customers, however loyal they've been, however well they've conducted their accounts in the past. An absolutely horrendous bank nowadays.
I;ve been with them since the early 90's, yet when I applied for a mortgage with them in 1999 they turned me down. Thank God!!!
Their loss, as despite all my later troubles I've always steadfastly paid the mortgage, and have never to date been ripped off by my mortgage company on rates.
Time will tell though, as it looks set to get rough all round...

[pompeyfaith]

Re: Mortgage Rates - Screwed us again... What your story?

Flossy,

Back in 2011 we had a refund from the Halifax because there SVR could only charge 2% above the BOE rate as per Agreement and contract which was and still is 0.5% so the maximum Halifax could charge was 2.5% only we had been paying 4.5% for an age thus we had a sizable refund as they was caught out by the FSA.

[vossy]

Re: Mortgage Rates - Screwed us again... What your story?

I too am a Halifax customer, I did write and complain to them a couple of months ago when they started to put the rates up, I have not had a reply at all, not even an acknowledgement. I wonder if cammy and his pals have reckoned on this affecting us all, they truthfully cannot justify putting these rates up when as you say BOI rates are at 0.5%. The attitude of this government stinks, it is a case with tories that you must have less money than them now fuck off and shut up.

Apologies for the language, I'm a bit pissed off is all

[pompeyfaith]

Re: Mortgage Rates - Screwed us again... What your story?

Hi POP

I am thinking the same. I didn't think they would actually do this after the fuck up with Barclays and LIBOR fixing....

Its crazy as like you, am paying a ridiculous amount of money out that should be going down and not up!

I wonder if it can be challenged too.... I just cant get over the amount of money I have just paid out and now I have no money at all to pay the other DD's going out in the next few days... Im so angry...

It is something I am looking into but it is unwise to go in with all guns blazing right now better to wait until there is hard evidence of wrongdoing.

Rest assured I have my finger on the palse,

[pompeyfaith]

Re: Mortgage Rates - Screwed us again... What your story?

I too am a Halifax customer, I did write and complain to them a couple of months ago when they started to put the rates up, I have not had a reply at all, not even an acknowledgement. I wonder if cammy and his pals have reckoned on this affecting us all, they truthfully cannot justify putting these rates up when as you say BOI rates are at 0.5%. The attitude of this government stinks, it is a case with tories that you must have less money than them now fuck off and shut up.

Apologies for the language, I'm a bit pissed off is all

Apologise not accepted here on this forum so rant all you want.

[pompeyfaith]

Re: Mortgage Rates - Screwed us again... What your story?

For reference:

Halifax Mortgages - Halifax Standard Variable Rate announcement

[Flossy]

Re: Mortgage Rates - Screwed us again... What your story?

I too am a Halifax customer, I did write and complain to them a couple of months ago when they started to put the rates up, I have not had a reply at all, not even an acknowledgement. I wonder if cammy and his pals have reckoned on this affecting us all, they truthfully cannot justify putting these rates up when as you say BOI rates are at 0.5%. The attitude of this government stinks, it is a case with tories that you must have less money than them now fuck off and shut up.

Apologies for the language, I'm a bit pissed off is all

Hi Vossy from Flossy!

Its not just the Halifax...I am with the Bank of Ireland and they have put there Mortgage rates up more than any of them. Like I said instead of rates coming down to BOE 0.25% they are going up.

Bank of Ireland rate was 2.99% it is now 3.99% and is going up again in September by another 0.5%! At the moment after this 1st hike I am paying an extra £170.60. So, September is another 0.5% There is no way I can cope with that as I am just in a bad way with my health, have debts to pay and am borrowing money for my shopping off my mum who is on a pension!

The government are a bunch of spineless wankers who look after themselves before anything else!

Do not apologise for your rant as I have never been so mad...

[Flossy]

Re: Mortgage Rates - Screwed us again... What your story?

The Halifax will jump on ANY opportunity to screw their customers, however loyal they've been, however well they've conducted their accounts in the past. An absolutely horrendous bank nowadays.
I;ve been with them since the early 90's, yet when I applied for a mortgage with them in 1999 they turned me down. Thank God!!!
Their loss, as despite all my later troubles I've always steadfastly paid the mortgage, and have never to date been ripped off by my mortgage company on rates.
Time will tell though, as it looks set to get rough all round...

Hi Shep,

You are lucky they turned you down... They are a pathetic excuse for a bank...

All of the Mortgage Companies will follow.... Before I became ill my job was in the Financial Services as a Mortgage Advisor so I have always got my mortgage deals cheaper and never missed any payments either even now when in debt I have always paid my mortgage....

All of the banks that you have been a 'loyal customer' with do not give a toss about you. They will hang you out to dry without warning.. You only need to look at everyone on here whos banks have ripped them off. My Diary with Yorkshire Bank... I was with for 25 years and never in debt or been a bad customer. As soon as I became ill they fucked me over (as they did Mrs G) and sold my debt to Cabot without warning... I was then issued court papers there and then and had no choice but to settle in the end and they are going for court again with my YB CC..

Seriously it is time the banks played fair

[Flossy]

Re: Mortgage Rates - Screwed us again... What your story?

It is something I am looking into but it is unwise to go in with all guns blazing right now better to wait until there is hard evidence of wrongdoing.

Rest assured I have my finger on the palse,

I trust you completely POP. Keep me informed if anything happens or you find anything out please. I will also start looking into this and see if I can find anything...

[Flossy]

Re: Mortgage Rates - Screwed us again... What your story?

Flossy,

Back in 2011 we had a refund from the Halifax because there SVR could only charge 2% above the BOE rate as per Agreement and contract which was and still is 0.5% so the maximum Halifax could charge was 2.5% only we had been paying 4.5% for an age thus we had a sizable refund as they was caught out by the FSA.

Funny you should mention that. I have a friend who they did the same to and he hasn't done anything about it despite me nagging him... Well done for that at least they got caught out... Brilliant

[Flossy]

Re: Mortgage Rates - Screwed us again... What your story?

For reference:

Halifax Mortgages - Halifax Standard Variable Rate announcement

I didn't really look at this until about 10 minutes ago... I had a Mortgage with the Halifax around this time.. Just checking my files to see what it was. I changed companies so many times I couldn't remember which I used and didn't use.

Thanks for this POP x