Have any of the lenders passed on the recent ECB rate cut to borrowers or depositors?

[Brendan Burgess]

There usually is a flurry of announcements around the time of the ECB announcements. I haven't heard anything this time.

I am only referring to Standard Variable Rates and not trackers, where no announcement is necessary.

Brendan

 

[Yakuza]

I'd say the silence speaks volumes...

 

[Mrmr]

AIB re-rated tracker mortgage this morning.
Or do you mean the portfolio of product offerings/ SVR's?

 

[breakonthru]

I'm not waiting for a letter. I just recalculate the new arrangement, change my standing order and hey presto, they'll get less cash next month from me!

 

[PolkaDot]

My fear is that the SVRs will go up?!

Am I correct in saying that the ECB reduction, which means a reduction in trackers, is only costing the lenders even more on tracker mortgages??

Therefore, to compensate, they might increase the SVRs again??

 

[Dermot]

Yes Aib have re rated my tracker mortgages yesterday 13/11/13

 

[bugler]

As noted in the OP, we are not talking about trackers here. They are obliged to pass on the cut to tracker holders.

There are no known announcements I have seen in relation to SVRs or deposit rates, bar the initial "no immediate plans" from most of them: http://www.irishtimes.com/news/cons...pass-cut-to-variable-rate-customers-1.1588881

Personally, I expect a SVR hike Q1 2014.

 

[Lightning]

I think the previous ECB cut, to 0.50%, was passed on, only by BoSI (Certus) to SVR customers.

There have been no announcements of changes to deposit rates since the recent ECB cut thus far. I expect that to change.

 

[ryaner]

Deposit rates have been falling over the last 12 months anyway. Until the government saving bond rates fall some more, I'd say they can't drop them too much.

 

[Lightning]

The first deposit rate cuts post ECB cut have occurred. Nationwide UK have dropped instant access and notice rates by 0.25% in line with the ECB cut.

 

[Lightning]

Investec have cut term deposit rates by a range of 0.25% to 0.30%. Moderately above the ECB cut.