Kensington, Capstone (SPML) - & Interest Rate cut (1.5%) to customers?

[lucky01]

Hi there

 

Anyone know if Kensington, or Capstone (SPML) are going to pass the interest rate cut to customers?.... anyone one heard anything?

 

Also does anyone know if Kensington is part of a larger organisation? ie: I know SMPL used to be part of the Lehman Bros Group... what about Kensington... cannot seem to find this info anywhere? :?

 

thanks

Lucky01

[OLIVE.FAMILY]

Hi there Lucky,

Kensington have paassed on a rate cut on my secured loan with them biut not yet with my mortgage. There was apost here the other day from somebody who said that KIMC were not passing down the cut but infact were increasing it.

 

KMC are kind of part of a bogger group I think. There is a whole host of other companies named after London boroughs who KMC seem to be part of. I also believe they are part of the same goup as GMAC. KMC are actually owned by a S.African group. If you read through Tawny Owls thread http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/127712-mortgage-arrears-kensington-nervous.html you should find a bit more info about these guys. Look nearer the last 10 pages.

 

Investec I think is the name of the company

 

olives xx

[lucky01]

Horror!!!... surely they can't increase the Interest Rate when many are cutting + Government advises as such...

 

Anything we can do... from the CAG website there appears to be a great many Kensington customers... and probably many not on CAG... what can we do?

[OLIVE.FAMILY]

Found the other thread

http://www.consumeractiongroup.co.uk/forum/other-institutions/3462-kensington-mortgages.html

 

Really not sure what we can do. I had a complaint with FOS recently about KMC and one of the issues I raised was this intrest rate. They basicly said they can do what they want

 

olives xx

[midge61]

HI

 

I have a mortgage with SPML/CApstone and am on their SVR which is 4.25% (I think) PLUS LIBOR.

 

I am due a letter this month giving my rate for the next 3 months but am assuming that as LIBOR has fallen so will my payments.