One Account rates cut

Johnkg

Phoned RBS offset mortgage line this morning and, as usual, got the 'rate under review' message. Looks like the PBR did not give them the opportunity to 'bury the bad news'.

I expect all RBS/Natwest/One Account offset holders will hear at the same time... it better be worth waiting for!

apap

Despite the recorded message, i keep calling them twice a day over the phone and several times with the web chat.

Just trying to make sure that they get the message.

Once the crises are over, i will be definetly moving elsewhere

smarty_pants_4

I have started making the move to a new mortgage provider, but hope One account will see sense and pass on most of the cut as I could do without the hassle. Lets try and keep this pressure up.

If they do not make a decent cut, it seems likey they will loose their best customers (ie the ones in a position to secure better deals, who have paid off more the 50% of their mortgage, and are least likley to default) and be left with those who cannot move. I am not sure how this makes business sense, but I am sure it must do.

lisyloo

It does show though that the banks are only interested in raising capital and not in thier customers.

On the other hand it might be something to do with the cost of borrowing during a hitherto unprecedented global credit crunch.

jackarmy

Luckily for me I moved to ING on the "not greater than 0.9% above Base rates" a few years back, but had considered moving back to the OA since I kept my current account with them.

Have now decided to stay with ING as I don't believe in chucking my money away however flexible the account is.

This account is still closed to new business, maybe they're making enough dosh from their current customers.

www.rbsip.com

Good luck

smarty_pants_4

This account is still closed to new business, maybe they're making enough dosh from their current customers.

www.rbsip.com

Good luck[/quote]


It is only closed if you go through an IFA, if you go direct, (i.e. as a customer go the website, phone up and apply) then it is still open. Its not somthing I would want to do.

Just found my new mortgage I think HSBC Life Time Tracker: Tracks at .99% above base rate, will go as low as the base rate, daily interest, unlimited overpayments, no exit fees etc.

Only problem is that its not offset, so money that goes in will stay in, however at a saving of £4400 per year on the interest, I think I am willing to live with that. Bye Bye One Account.:beer:

apap

Yesterday at his Pre Budget speech Alistair Darling was praising RBS on their response to overdraft charges for small business, trying to relay the message that tax payers bail out is working.

Maybe he needs to know the situation with oneaccount as well.

You can get how to get in touch with him from the treasure website at
http://www.hm-treasury.gov.uk/contact_index.htm

e1london

I asked them again via their web site...
http://www.oneaccount.com/onev3/contact/contact-landing.shtml

Please wait for a representative to respond, it will only take a minute.
You are now chatting with 'Yvonne'
Yvonne: Hi - how can I help?
Yvonne: Before we go on, I'd like to tell you that I can't give you any advice, but what I can do is give you information on some of the One Account mortgages and protection products provided by the Royal Bank of Scotland group. I will also confirm this in writing for you.
Yvonne: We are part of the Royal Bank of Scotland and are a member of the Royal Bank of Scotland Group
Yvonne: We will share your information within our Group of companies for business and operational purposes. We will also share your information with other organizations for credit risk and fraud prevention purposes.
Yvonne: If you proceed, your terms and conditions will contain further details of how we and others use and share your information
Patrick: hi - can you tell me about the interest rate and if you'll be dropping it on the 1st of Devemeber as promised (by the RBS group) to the government?
Patrick: it still says 6.2% on your web site
Yvonne: The One Account variable rate remains under review. It is important to remember that while this product is not linked to the base rate, we are using the recent base rate decision to review our interest rates.
Yvonne: Unfortunately nothing has been announced
Patrick: it's been under review for about 10days now?
Patrick: when will someone know?
Yvonne: ?
Patrick: ?
Yvonne: Do you wish me to log your concern
Patrick: I was told the answer you just gave about 10 days ago - how long will the "review" take?
Patrick: why is the bank not just automatically following RBS's lead and dropping it's rate?
Patrick: it's very confusing for us
Patrick: yes please - do log my concern
Yvonne: Ok may I have your postcode
Yvonne: or account number
Yvonne: I will mark it further action and you will receive an acknowledgement within 5 days
Patrick: xxxx
Yvonne: ok
Yvonne: oh and surname
Patrick: xxx
Yvonne: I will pass the details to the customer concerns team now
Patrick: thanks
Patrick: cya

lrr_2

How Long can they keep this up?

Total disgust in the way they are treating us as customers!

You would think we were asking them who shot Kennedy for goodness sake!!!!

yus786

They've got us by the b#lls.

They know most of us CAN'T leave....