Can anybody tell why Halifax has put my Mortgage by 60 euros the ECB has over the last two months put interest rates down by 1% not up

Trouble is they don`t have to pass it on to you, credit cards have also risen, they say to cover the extra risk factor on lending money at the moment.

They can say its for the man in the moon but the plain fact is its just an exuse to rob you.Its like now on this renewal for morgage insurance .they want to put the insurance up by quite a lot.they said its because im older now than when I first took it out 7 years ago .hows that for a exuse.I pointed out that yes Im older than 7 years ago and it has gone slightly up over the years but the morgage has gone down by 7 years payments.so I will be shopping around.

If you are talking about level term insurance, get a quote from these.

www.cavendish-online.co.uk

Not part of the company but have used them before.

Thanks ,I will give them a look.

http://www.thesun.co.uk/sol/homepage...cle1924796.ece

I spoke to them about this yesterday - the eurobor has been rising steadily for the past few months. It wasn't until November that it actually dropped.

This drop will be reflected in Decembers payment.

All this presumes, of course, that you have a monthly euobor linked mortgage and not an annual one.


... and yes, they MUST pass it on if you have a eurobor linked mortgage.

The rates have been 4.479 for august (reflected in Septembers payment)
4.511 - sept
5.050 - oct
4.434 - nov. This is the first drop but quite a large one.

Unfortunately most variable rate mortgages seem to be with an annual review. In the past this has not presented any problems but with the highly volatile Euribor rate over the last year or so, many people are getting a shock when they get an unexpected rise.

It just depends on which month you come up for review. Those who had a review a couple of months ago have an increase and those coming up in Dec/Jan will have a decrease.

This is correct but the Halifax also offer a monthly eurobor mortgage which changes EVERY month as the eurobor changes. They also have an annual eurobor mortgage which, as you say, changes annually. (I know this as I have a monthly eurobor mortgage and I suspect the OP has as well from his comments.)

Thanks for that information, very helpful

Thanks for that information, this has been very helpful. Is there a site where you can check on the Eurobor rates

I do have monthly Eurobr rate mortgage with the Halifax es. which is 1.35 above Eurobr rate

This site is updated around noon each weekday.

http://www.homefinance.nl/english/in...rest-rates.asp

Mike

Thanks for that Mike, have put on my favorites list
Terry

time you move banks and mortgage , tell them you on the move and you many see a drop in your interest rates , ha befor you do that you must be a very good , ie pay on time every time