dave2
Member of DD Central
Posts: 177 
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Post by dave2 on May 25, 2018 17:39:15 GMT
Agreed. I can't understand why they can't just say "of course we'll give at least 30 days notice of any drop in rates (emergencies excluded)" There was no such notification of a drop in rates required prior to the rate rise, why should it be expected now?
Assetz Capital chose to backdate the rate increase by two weeks, would you have preferred them to give 30 days notice instead?
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Post by stuartassetzcapital on May 26, 2018 14:11:28 GMT
It is unlikely that changing a target rate downwards would be treating customers fairly without giving the 30 days notice for such a change on the 30 Day Access Account as otherwise people would be locked in for 30 days on a lower target rate. So we are always likely to give that 30 days notice on any downwards move on that account. In any case the feedback you have had is correct - there is no current planned date to reduce that rate. I hope that helps.
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sl75
Posts: 2,092
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Post by sl75 on Jul 2, 2018 14:05:20 GMT
Very welcome indeed! 'We're excited to announce our first ever rate rise across our Access Accounts! This rate increase which takes effect from 1st May 2018 until further notice, will take target gross interest rates for the Quick Access Account and 30-Day Access Account from 3.75% to 4.1% and 4.25% to 5.1% respectively.* So, a month an a half later, I receive a "June Lender Bulletin", prominently featuring a "rate rise" with a big "NEW" tag across the corner of the image. ... so I click through to see what the new rates are, and find they're exactly the same as the old ones. Are they really still trying to advertise a rate increase that took effect 2 months ago as "new", or did someone forget to update the system with the new new rates?
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