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ECB 02/04/09 rate cut, Will Ulster bank pass this one on

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  • 02-04-2009 2:31pm
    #1
    delop
    Registered Users Posts: 490 ✭✭


    Does anyone here think Ulster Bank will pass on this latest interest cut to they Variable rate mortgage holders this time...

    They only passed on 1/2 the last one, and I could not get an answer from them as to why they held back...

    Ill have to put my money where my mouth is this time if they dont and move my mortgage

    Has anyone here moved their mortgage because of this?

    Apologies to anyone who is on a Fixed rate Mortgage, it must be a bit upsetting ...


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    #2
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    Can believe you have stayed with them up til now. I would doubt they´ll pass any of this cut on to stan var customers. They are under no presure to do so, and it seems like they would perfer customers to move their mortgages elsewhere. They certainly aren´t looking for new customers.

    If you can move, move.


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    #3
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    No penalty to leave and BOI and Halifax are paying a grand towards legal fees. You could be paying 2 or 3 hundred a month less if you moved. What are you waiting for? The only problem is if your LTV is over 80% - they might not be too keen. Don't bother with brokers - go straight to a branch.


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    #4
    adox
    Registered Users Posts: 19,017 ✭✭✭✭adox


    I`m in the process of moving from First Active to Halifax. Their variable rate is over 1% less than First Active.

    Legal fees are being paid. The only expense I`ve incurred so far is €130 for a valuation on the house which I can claim back from Halifax once the money is drawn down.

    Definitely move to a new provider and as previously suggested, go direct to them.


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