First Active Message doesn't make sense?

On First Active website it states:
ECB Rate Decrease - Impact on Mortgage Customers
First Active is pleased to announce that with effect from 1st December 2008 the Standard Variable Rate for First Active mortgage customers will decrease by 0.50%. In line with the European Central Bank's decision to cut rates by 0.50%, First Active customers with a Tracker Mortgage will also benefit from a reduction in their interest rate by 0.50% from 1st December.

Offset Flexible Mortgage rates will also reduce by 0.50%, with effect from November 19th.

So I'm wondering why tracker mortgages don't get their rate deduction til 1st Dec even though Offset Flexible Mortgage holders get theirs on 19th Nov?

Did the Offset Flexible Mortgage rates decrease with the first ECB decrease? Or is this their way of slipping one decrease in instead of two?

Because they're scum. When the rates went up they went up immediately. It's bang out of order we have to wait 4 weeks for the new tracker to take effect... 'Pleased' to announce...my a*se. The tricks they have tried to pull to rip me off on my mortgage you would not believe...

See here for an in depth analysis of scum

http://www.askaboutmoney.com/showthread.php?t=96332&highlight=pirate+scum

ha ha!! v. good!!

They are not passing on the mortgage interest decrease by default, you have to instruct them to do so :-(


We got a letter yesterday to say what our new mortgage figure is. The also told us if that the will continue to take the current value and we have to contact them if we want otherwise.

I have an offset mortgage and then a top up mortgage. I received notice that the interest rate cut was being applied to the top up, but nothing re the offset so I rang them.

I was supposed to get a form that I have to fill in, to claim the interest rate reduction, otherwise they keep deducting the same every month. I have not received the form and therefore will miss out on the first month!!!!

Do we have to do this every time we get an interest rate cut. Why dont they just apply automatically!!! and those that can afford it instruct them to keep deducting the higher amount!!!

THey have really ANNOYED ME!

REgards
Caz