no letter from NIB after 2nd of 2 recent ECB reductions

[summersun]

I received a letter following the first of 2 recent ecb .5 of 1% reductions confirming the impact of same on my tracker mortgage, I have not received a letter confirming what monthly amount I will now pay following the 2nd recent reduction and when that change comes into effect, I just emailed NIB, anyone else experiencing similar?

 

[Guest116]

same here, and my online banking hasn't reduced my next repayment yet which will go out on 7th Dec.

 

[ATgirl]

I received my letter yesterday detailing the 2nd rate change. You might get yours in next day or two. I was waiting 6 weeks before I got the letter detailing the 1st rate change when others had received it.

 

[Shawady]

I didn't receive a letter but the 2nd rate cut has been taken into account for my next payment on 1st Dec.
Fingers crossed for another cut before the end of the year

 

[twofor1]

With my NIB tracker, receiving the letter and seeing a change in pending payments normally takes about three weeks after a rate change by ECB.

The change in interest rate whether up or down has always been applied within three working days. Mine reduced to 3.75% the 11th.

The most important issue here is you are getting the benefit of the reduction, even if it is not yet reflected in your repayment.

 

[Protocol]

My experience with my NIB LTV tracker mortgage:

1 ECB rate cut to 3.75% announced on Wed 8th Oct.

Letter from NIB dated 16th Oct
Rate cut to 3.75 + 0.50, effective from 15th Oct
Effective from repayment due on 28.10.08.

2 Second ECB rate cut, to 3.25%, announced on Thur 6th Nov

Letter from NIB dated 13th Nov
Rate cut effetive from 12th Nov. Effective from repayment due on 24.11.08.

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