While I think that variable (and fixed) rates still seem too high and should come down I still wonder if some sort of levy on cheap tracker customers should not also be part of the solution to the arrears/non sustainability problem? I could be totally wrong - but why not?
Sarenco,
Can you explain what capital gains tax is, or tax on the net profit of businesses, or selling shares ?
I paid around 4% or more on my tracker at one stage. No one was complaining about SVR's back then.
There are a lot of valid arguments against some sort of levy and I'm sure if I had a tracker is be against it too. But if the banking system can't recover without charging excessive svr rates to compensate for loss making products the government and the banks have to come up with a way to share the burden.
.
Thanks for treating my comment with such respect.With respect to all, this is a ridiculous suggestion. Penalising people many of whom evaluated options and took a tracker. Are you serious?
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