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Post by ferpesin on Sept 19, 2023 2:59:30 GMT
See the latest email from LP on term variation: they are saying that the majority of their loans have been made with adjustable rates (linked to BOE) thus passing on the borrowers the rate-risk we as lenders would otherwise accept. The 'quid pro quo' they are bringing forward is we would receive << 60 days notice of downward rate changes [in spite of being on 60 days notice of withdrawal] Fair play as I can't see any way this really punishes lenders. Then I expect to see also immediate increases with BOE decisions, otherwise I am getting out. I don't want to get trapped like in AC again. Let's see by the end of the week...
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Post by ferpesin on Jun 22, 2023 18:46:51 GMT
Uff, with today's rate increase and banks offering 5.7 for a year fix I don't know if it is happening fast enough...
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Post by ferpesin on Jun 19, 2023 16:25:14 GMT
Also getting more interest now while some of the loans are still on the self servicing period and "promising" a lower fee later on when some of these might default.
It is an absolute joke. I think at this point AC doesn't care at all about retail or an orderly wind down and is taking as much as it can...
PS: I don't work for AC since a few years ago
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