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    • The company is called Ideal Window Solutions Below is a response from the manager to a request to cancel, them having cancelled the fitting on at least four occasions. In June it was arranged they would start at the beginning of August and each date they promised they have cancelled. .  I have been informed by the office that you said you want to now cancel after telling me that you will see it through till October. If you do cancel, as I mentioned to you, there will be financial penalties due to the fact that you have signed an official, legally bounding contract to supply and fit new windows. I mentioned to you that the glass has already been delivered and all other costs associated to putting your contract in place. If you cancel we will be looking to recover this from you. I don’t want this this to happen over a couple of days, which is out of our control. Can you please reconsider and get back to me.
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Mortgage Interest Rate


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I have a mortgage which I took out two years ago the mortgage was with GE Money I took a deal of 1.25% below the standard variable rate for GE.

 

GE then sold my mortgage to Mortgage Express the same deal prevailed. My discount is coming to an end in December 2008 and Mortgage Express have written to me saying my new payments from January 2009 are likely to be at a rate of 7% this would hike my monthly payment up by £150.00.

 

My question is whose standard variable rate should be used when calculating this and do they have the right to set what ever interest rate they feel like.

 

Bearing in mind they are really Bradford & Bingley and are not writing any new business.

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Then that will be the rate your new interest rate is linked to - sounds like the deal could have been BOE base rate + 1.5% or similar. It has gone down 0.5% today.

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I have a mortgage which I took out two years ago the mortgage was with GE Money I took a deal of 1.25% below the standard variable rate for GE.

 

GE then sold my mortgage to Mortgage Express the same deal prevailed. My discount is coming to an end in December 2008 and Mortgage Express have written to me saying my new payments from January 2009 are likely to be at a rate of 7% this would hike my monthly payment up by £150.00.

 

My question is whose standard variable rate should be used when calculating this and do they have the right to set what ever interest rate they feel like.

 

Bearing in mind they are really Bradford & Bingley and are not writing any new business.

 

when you take out a mortage you agree that you lender can sell your mortage at any time GE/GMAC are well know for selling their mortgages

to your question whose SVR rate is applicable , the answer is Mort Express in your case & yes they can set the rate to their SVR + 1% for example IF thats what it said the original lender could do, in other words if GMAC said you can have a discount for the first year then it reverts to SVR + 1% , then your new lender is obliged to follow the original terms

 

you could always re-mortgage to another lender

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when you take out a mortage you agree that you lender can sell your mortage at any time GE/GMAC are well know for selling their mortgages

to your question whose SVR rate is applicable , the answer is Mort Express in your case & yes they can set the rate to their SVR + 1% for example IF thats what it said the original lender could do, in other words if GMAC said you can have a discount for the first year then it reverts to SVR + 1% , then your new lender is obliged to follow the original terms

 

you could always re-mortgage to another lender

I have checked my last reduction back in April when the rate was 5.750% this was 1.25% below standard variable rate so the actual SVR is 7% which is what it may go up to in January when the deal ends. If they pass the BOE cut on at least I will get that for the last two months of the current deal and will be looking at 6.5% in January if nothing else happens with BOE rate.

I have heard that some banks /lenders are not passing on the reduction to customers it’s a bit rich when its us the taxpayer who has saved the banking jobs.

Thanks for your help it concentrates the mind to look around

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