Quote:
Originally Posted by triggerhappy  Yas! Is this permanent? The interest on mine last year alone was £400  |
Nah, it's reviewed yearly in line with the Bank of England base rate or the Retail Price Index depending on which is lower.
The newer style ones dropped from 3.8% to 1.5% between September and February in line with inflation. Interest on older loans couldn't be dropped due to the type of credit agreement, hence why it's going negative from September.
