Just got back from holiday to find a letter from RBS to say the interest rate on our One Account is being cut by .25% as per the BOE rate change
4th August....BUT this rate change will not come into effect until 31st August. In the 7 years we have had our account rate changes have always been immediate - or were when Richard Branson still had a finger in the pie - it appears to me that RBS have now decided that the One Account features that have made it such a useful type of account are to be bought into line with how other banks/building societies run their accounts....is this the thin end of the wedge I wonder? what will be next? It will be interesting to see if, when there is a BOE rate hike, they hold a rate change back to the end of the month....maybe time to look around for a change of account - are there any other current account mortgages that anyone can reccommend? am not interested in an offset type - I like the current account set up and would prefer to stay with the same formula.
Lily