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Post by jackpease on Jun 20, 2016 10:58:59 GMT
Just for the record - Landbay appears to have pulled its fixed rate product "Due to an influx in demand"... as this only leaves a lower rate product this is an effective cut.
So Landbay joins Wellesley's headline rate cut, SS's mooted move downwards (for some loans), recent lower rates for Ratesetter and FC, etc etc.
For those that say "I'm out", do say where you are heading to for like-for-like risk (ie moderate risk, moderate return, easy invest and forget).
Currently maxed out on very available higher-risk SS!
Jack P
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pom
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Post by pom on Jun 20, 2016 11:18:00 GMT
I really think that you should change the subject because it's not a cut - these are two separate products and they merely have an imbalance of supply/demand on the fixed rate product. If - when they have more borrowers demanding a fixed rate mortgage - they later have more fixed rate availability at a lower rate then that WOULD be a cut.
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SteveT
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Post by SteveT on Jun 20, 2016 11:23:55 GMT
jackpease, pom is correct that your thread title is inaccurate and potentially misleading. Can I suggest you change it to "Landbay latest to withdraw higher rate product" (or similar). Or else I can put my magical Mod hat on and do it.
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pom
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Post by pom on Jun 20, 2016 11:28:02 GMT
I'd also suggest including "(temporarily?)"
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Post by jackpease on Jun 20, 2016 11:50:30 GMT
Hope that is better title! The impact is a rate cut even but the headline should be clearer Sorry guys Jack P
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Post by Landbay on Jun 21, 2016 13:17:22 GMT
Hi all, Just to confirm pom is right, the Fixed Rate Product is temporarily unavailable due to high demand. We will let you know when it's back, and in the meantime please feel free to drop us a line with any questions! Best wishes, Landbay
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fp
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Post by fp on Jun 21, 2016 18:35:42 GMT
Out of curiosity, what rate did this pay?
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Post by Landbay on Jun 24, 2016 11:41:54 GMT
Hi fp The rate was 4.5% compounded over 3 years. Landbay
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