One Account rates cut

Princess_Coupon

I have had an email read receipt from Ian Pollock at the BBC, no reply but at least he has read it!:j
and newsdesk @ the express!!

adeprit

Ive just signed up to join the campaign, not very happy, will be emailing/phoning everybody come monday morning if my interest rate is not cut to at least 5%.

JGP

If any OA people are watching, what is interesting is lots of "newbies" are joining the list (me included and adeprit above is the latest). Maybe 263 postings is not huge BUT over 25,000 viewings shows the interest in this case.

Don't forget - the Govt aka "us" are the majority shareholders. Now please do what you should do, and stop this procrastinating nonsense. You are doing yourself no favours by not showing your cards to us asap. Don't really care what they show, but just let us know and we will act as appropriate and the market will dictate. Personally I can only think you want rid of us all, and maybe you will win.

inandoutagain

I have emailed and written to everyone I can think of. Please do the same - we have to somehow get the attention of the media. The government do not seem to understand that lower mortgage payments mean more spending in the economy and fewer repossessions and therefore more jobs saved. Far more effective than a 2.5% VAT rate cut.

Yorkshire_Bred

There is a campaign running over on the Which website which has an easy to fill out form and letter to send to the chancellor, you could adapt to suit and send separately if you wish

http://e-activist.com/ea-campaign/clientcampaign.do?ea.client.id=49&ea.campaign.id=1639

Dear Chancellor
I am emailing to call on the Government to urgently help mortgage customers and savers following the recent banking crisis and partial nationalisation of a significant part of our high street banking sector which inludes The Royal Bank of Scotland.
As a Customer of The One Acount (which is a subsiduary of the RBS) I would like to air my frustration at having received no notification or benefit from the last interest rate cut of 1.5%, this is contrary to reports in the media that the full rate would be passed on.
The Government has taken unprecedented steps to protect banks in the global financial crisis. I would therefore also ask you to take unprecedented steps for consumers as you seek to create a stable banking system. I would urge you to:
> Ensure that lenders pass on, in full, any cut in interest rates to their mortgage customers.
> Guarantee that banking bonuses are linked to long term performance, treating their customers fairly and sticking to the regulators' rules.
> Ensure root and branch reform of banking so that consumers are protected from the risks that we are all currently facing, and to make sure this crisis never happens again.
I look forward to your response.

jamandpickle

perhaps branston should buy it from RBS, much better when he ran it. Anyone thinking of checking the website for an update on rate dont bother. The website never changes. earlier this year sent me a mailshot to recommend a friend? what a cheek! Lets write to Richard Branston...Bring brack the branston!

tajima1

jamandpickle wrote: »

Lets write to Richard Branston...Bring brack the branston!

Mind you, wasn't it him who got us into this pickle! :rotfl:

ktulu_2

I've just dropped an email to my local MP, Vince Cable.

If anybody will take RBS to task on this I'm pretty sure it'll be him.

Spud_2

lrr wrote: »

Changed it but only put most paying 6.2% as it depends on how much you borrowed against your house but 6.2% is the average I think, thats what I pay anyway.

Yes, it's LTV - we're paying 6.1% - still too high by, let me see, 1.5%???

woodam1963

First a confession: I spent more than 10 years working for Virgin Direct and Virgin Money and, while Marketing Director in 1997, I was heavily involved in both the product design and public / media launch of the Virgin One Account. Several years after leaving Virgin I remain a loyal One Account customer...though my loyalty has been stretched to breaking point in the past few weeks.

I have to say it's heart-breaking to read so many negative, yet to my mind almost entirely justified, comments about a once revolutionary mortgage product that we were so proud of at the time and which, for many years afterwards, genuinely represented the 'acceptable' face of UK financial services.

It beggars belief that any Bank would be comfortable treating its customers in the cavalier fashion that is so evident from the emails and phone calls related on this site. Given RBS's current predicament one would have thought that it would be particularly attuned to what its most valuable customers are saying, yet the opposite appears to be the case. Even a bit of basic, common sense customers communications would go an incredibly long way, yet they appear to have simply stuck their heads in the sand in the hope that all their aggrieved customers will get fed up of complaining. Not likely with £250 each and every month on a £200,000 mortgage at stake they won't.

Anyway, my apologies again for the part I played in the birth of this now much-maligned product - it really was never meant to end this way. I fully agree with those people who have decided to take their grievances to MP's, the media, the Ombudsman and any other available channel. As my own penance for having helped get us all into this mess in the first place I have started a Facebook campaign this evening:

DECAMP (Declaration by Enlightened Customers Against Mortgage Profiteering) .
Although it was very much inspired by my own recent experience with the One Account, I do hope it will become a useful resource and rallying point for all UK mortgage customers who are victims of bank profiteering and who are looking for an outlet for their questions and and frustrations. If you're on Facebook please sign up for the group...who knows where and when the tipping point might come when RBS finally sees sense on this!
Best of luck everyone!