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Anonymous
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From: Anonymous
Hello all,
Just wondering if anyone else has the same situation with their lender as I do when it comes to interest rate changes.
When interest rates went down last year, it would take my lender one month to pass on the savings to us by lowering our interest rate. I was told by their customer service rep that the situation would be the same when interest rates increased (ie, we'd be given one month from the time the RBA raised interest rates until my lender increased our home loan rate).
But sure enough, when the official rate went up earlier this month, within a couple of weeks our home loan rate was increased. And they didn't even send us a letter to notify us of this change! We just noticed it through our internet access to the home loan today.
Are all lenders like this???
Anon
Hello all,
Just wondering if anyone else has the same situation with their lender as I do when it comes to interest rate changes.
When interest rates went down last year, it would take my lender one month to pass on the savings to us by lowering our interest rate. I was told by their customer service rep that the situation would be the same when interest rates increased (ie, we'd be given one month from the time the RBA raised interest rates until my lender increased our home loan rate).
But sure enough, when the official rate went up earlier this month, within a couple of weeks our home loan rate was increased. And they didn't even send us a letter to notify us of this change! We just noticed it through our internet access to the home loan today.
Are all lenders like this???
Anon
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