Halifax to hike mortgage interest rate

Halifax coffers need topping up so customers get to pay

The Halifax, Britain's biggest mortgage lender, is expected to raise its standard variable mortgage rate (SVR) from 1 May. The bank says this is because they are finding it harder to raise money. Oh, yes? How come they are doing so well, as part of Lloyds Banking Group, and cannot keep their housekeeping in order. Hypocrites! Royal Bank of Scotland has already raised the rate on two of its mortgages from 3.75% to 4%.

We've just seen the bleaters in the City say that if the investment bankers didn't get their bonuses, they'd clear off to some other place. So bonuses have been paid. But paid for what, exactly? Clearly not for raising mortgage money.

These clowns expect largesse to come their way regardless. Taxpayers, mortgage payers, shareholders, customers are all expected to cough up as and when. But never themselves. I think the time has come for all bank bosses to have a time and motion person monitoring them day and night.

Something's not right. Nothing adds up anymore. Certainly not in the banks!

Posted in: Halifax Bank,interest rates,mortgages,RBS