I saw my interest on my mortgage account during the weekend. There was no indication that it had gone down to 3.1 in line with their recent advertised reduction, so I rang them.
You have to ring them and ask them for a rate sheet to say you want the new rate. I didn't know that.
Does anybody know if there's a valid reason (except for the cynical one I can think of, in that many people won't ask for the rate sheet so will stay on the higher rate) for banks to do this?
The guy said I'd signed a document saying I was to be charged 3.2%. I did. So does that mean they can never charge me more unless I sign a new document. I suspect not.
You have to ring them and ask them for a rate sheet to say you want the new rate. I didn't know that.
Does anybody know if there's a valid reason (except for the cynical one I can think of, in that many people won't ask for the rate sheet so will stay on the higher rate) for banks to do this?
The guy said I'd signed a document saying I was to be charged 3.2%. I did. So does that mean they can never charge me more unless I sign a new document. I suspect not.
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