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Halifax Kicks Us While We're Down The Halifax amongst others are taking the opportunity to step on the throat of a great deal of it's mortgage customers safe in knowledge that they are defenceless.

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Halifax Kicks Us While We're Down

May 01, 2012 at 2:12 PM

Let’s be fair and balanced about this is not just the Halifax who should be ashamed of themselves it is also other lenders such as , the Natwest, Bank of Ireland, Co-operative Bank, Clydesdale Bank and Yorkshire Bank amongst no doubt others who will do it in a day or two when the outcry has died down a bit.

Well over a million UK mortgage customers have had their repayments take a big hike today and two of the banks responsible are funded by the taxpayer.

So after them plunging the country into the mess we are in this is how they repay us by asking us to make increased repayments.

This is a disgrace as the Bank of England (BoE) rate has not increased, this is just a blatant “let’s make profit by squeezing our customers till the pips pop out”

Halifax may we remind you is owned by us the British taxpayer as it is part of “Lloyds Banking Group” remember those idiots? The ones who couldn’t get a kiss in a brothel, the ones who paid themselves HUGE bonuses while gambling the banks money away, safe in the knowledge that the British taxpayer would underwrite their losses.

Most homeowners will be paying an extra £200 - £300 per year on their mortgages as a result of this, and remember the BoE rate has not gone up they are just doing this to make more profit from us.

Natwest will be hiking the rates on the “One Account” which has about 100,000 customers.

The banks have no defence for this but have trotted out “it’s the Eurozone what made us do it guv”. I would just pointy out we are not in the Eurozone and the BoE has not increased its base lending interest rate since the beginning of 2009.

After Britain has just slipped back into recession, the first double-dip since the 1970s, it’s just what the country needs slightly less than a hole in the head.

A great many people fear that this increase will push their finances over the edge and even being able to afford the basics of life will be beyond them.

If your bank has done this to you then we suggest that you remortgage ASAP and find a better deal elsewhere. However this is often easier said than done as the banks are very reluctant to lend at present so finding a better deal may be difficult. Not because better rates are not available but because the lenders have raised the lending criteria standards to such a high level it is almost impossible to meet them and get accepted.

With still higher restrictions being put on mortgage loan applications all the time this problem is set to continue.

People who are in difficulty with their mortgages seemed to get absolutely no help whatsoever from the Bank in a great number of cases.

If you are looking to remortgage to a better rate (and you should be) get a free no obligation quote here.

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Tags: Banks, Building Societies, Mortgage Rates
Category: Banks & Building Societies

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