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

S

summersun

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