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Written on: 20.11.2009 [03:15]
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Lilly
Lilly
Topic creator
Posts: 4
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The Bank of Scotland standard variable rate used to be 4.65% and they then increased it again by a further 1% earlier this year. How is this possible when the cost for borrowing such funds should be much less by now?
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Written on: 23.11.2009 [12:01]
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Witt
Witt
Posts: 4
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Yes it is ridiculously high but they have the luxury of being able to charge whatever they want. But it is true that this sudden increase was horrible for existing customers such as myself. My repayments went up by nearly £150 in just one day. And the bad thing about it is that the Press is not speaking up, everyone knows about it, but thanks to the crisis no one wants to report on banks anymore. But let’s just hope it doesn’t carry on, I heard that perhaps the increase can only affect existing customers for a certain period of time.
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