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Banks eh? Doncha just love ‘em?

by Marrick on May 2, 2012

This week, Halifax##Q##s standard variable rate (SVR) increases from 3.5% to 3.99%, hitting 850,000 customers. Co-op SVR##Q##s up 0.5% points to 4.74% and Clydesdale/Yorkshire from 4.59% to 4.95%. RBS##Q##s One account jumps 0.25% points to 4%.

Did I miss something? Has the bank rate jumped? No? So how come they##Q##re blaming the "increased cost of funding a mortgage." Are they paying the staff more? Perhaps it##Q##s because the differential between the rate at which they borrow and the rate at which we borrow is at an all time high and they have gotten used to it so they want more? Or maybe they though "Sod it, everyone else is screwing them, why don##Q##t we?" Or perhaps it was just to fund the massive executive pay rises that are in fashion just now?

Answers on a postcard. Don##Q##t forget the stamp… at 60p a pop.

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