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Tracker mortgage question

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  • 29-11-2011 7:15pm
    #1
    Play Bunny
    Registered Users Posts: 362 ✭✭


    just wondering if any1 else is on this? i am and i didnt get the decrease this mth i looked back at the rte website and they said between the 16th nov & 1st dec it comes into play my morg is usually the end of the mth i thought it would have taken effect this mth?...or are they trying to gather as much money as possible before they have to cut it, they are quick to put it up!


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    #2
    dotsman
    Registered Users Posts: 3,635 ✭✭✭dotsman


    You don't say what bank you are with. The ECB rate change took effect on November 9th.

    I'm with AIB and received the reduction on the 16th. This is 7 days after the rate cut and is the exact same timeframe as rate increases (it is always 7 days after the official date).

    Depending on your bank's policy, it can take up to a month for the rate change to be passed on.

    If you have evidence that your bank is slower to pass on cuts than it is hikes, then please post it here as it is something that people should be aware of. However, I am not aware of any bank that does this as policy.


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    #3
    Play Bunny
    Registered Users Posts: 362 ✭✭Play Bunny


    We are with Ulster Bank i was just surprised i was gonna ring them but i may as well be talking to the wall :rolleyes:


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    #4
    pepperpixie
    Registered Users Posts: 99 ✭✭pepperpixie


    anyone know if bank of scotland are passing on the decrease?? I've had no letter yet? Usually they are fairly quick with correspondence.


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