One Account rates cut

taurusgb

I phoned this morning and there was a new message apologising for the delay and saying One account were aware that customers were unhappy at the wait and we would be notified as soon as possible of any rate reduction (or words to that effect). This was read out by a man, and timed as a new message from last night (10th)

Phoned again just now and got a new message, this time read by a female, and timed at 1.15pm today. This message reverted back to just saying rates were under review......methinks they feel they've made a mistake apologising! :rotfl::rotfl::rotfl::rotfl::rotfl:

xest

So lots of us are upset with the way One Account are behaving? Has anyone any current suggestions for mortgage lenders to move to? Cumberland BS are offering 5.15% for 6 years, wiith £6000 cashback!!! You have to live in their catchment area though, which is the North West. I am still looking for something that works for me.

Let me know what options you have found.

X

mr_jolly

taurusgb wrote: »

Phoned again just now and got a new message, this time read by a female, and timed at 1.15pm today. This message reverted back to just saying rates were under review......methinks they feel they've made a mistake apologising! :rotfl::rotfl::rotfl::rotfl::rotfl:

Out of interest, what number are you calling for the recorded messages? Every time I phone them on 01603 220500 someone answers straight away (maybe I've been lucky!).

Also, does anyone know if they announce this sort of info online? Their home page never seems to have any news of this type, and nor does the online banking interface (as far as I know).

huskypup

The One account number 08453 01 01 01, I have just phoned and it still has the same message as yesterday, saying rates are under review.

Nail_Lad

We're waiting patiently for them to make an announcement. They seemed pretty quick to pass on the 0.5% rate cut but 1.5% seems to have taken them by surprise a bit!

I've been looking at other deals out there just in case but not many of them offer the brilliant flexibility of the One Account. We adjust our payments based on our lifestyle which as with all lives changes regularly. It's so nice having a bank that works around you. We're currently overpaying massively but that won't continue after the arrival of our first child. So whatever deal we switch to needs to be flexible enough to meet our needs. Let's just hope the One Account acts soon.

scotcitz

Hi, sorry for ignorance but what is FD?

Meanwhile great to hear that others feel the same way about the way in which the One Account was marketed! Uh, not that this changes things but will be very eager to find out what happens with the case with the Ombudsman mentioned in another post and kudos to the person who took the time and trouble to stand up for consumer rights.

Doh

i can't see how that can possible get out of the full cut, RBS have announced they are passing on the full cut, and after we all spat our dummies our over the rate rise last time they were quick to remind us the rate was based on LIBOR on the BOE rate... well hello One Account.. the LIBOR has been cut too

agree with above, if they don't pass on this cut in full then i'll be heading elsewhere especially since the stoozing potential has virtualy disapeared since the rate cut, that was one of the great advantages of the one account... easy stooz

PeterPan_2

Doh wrote: »

i can't see how that can possible get out of the full cut, RBS have announced they are passing on the full cut, and after we all spat our dummies our over the rate rise last time they were quick to remind us the rate was based on LIBOR on the BOE rate... well hello One Account.. the LIBOR has been cut too

agree with above, if they don't pass on this cut in full then i'll be heading elsewhere especially since the stoozing potential has virtualy disapeared since the rate cut, that was one of the great advantages of the one account... easy stooz

I had phoned them on Monday to discuss my mortgage and they had told me that today Wednesday the announcement was coming. They said they would make the announcement mid week (today) but have not heard anything. They should tell us something by Friday. We shall see if true.

rinkydinkpanther

Got excited when I rang just now and it said the message had been updated this morning...but it still just says it is under review. They must be looking into every possible way of trying to get out of passing on the cut.

scotcitz

Hi, I used the 'live chat' function on the One Account website to say that the 'peasants were getting restless' today ... I would urge others to feedback. I am looking pretty actively to switch and have applied for the BOE + 0.99% tracker at HSBC but frankly would rather skip the £799 charges and bother and get a decent rate from RBOS. Every day they ignore us is another day they get away with not passing on the rate ... they are claiming they have done this in the media (and I am not accepting any arguments that the One Account is a 'separate' entity!)

for example, see http://www.bloomberg.com/apps/news?pid=20601102&sid=aKZVVd0j.zd8&refer=uk

HBOS, RBS Cut Mortgage Rates After Government Meeting (Update2)

By Jon Menon and Kevin Crowley
Nov. 7 (Bloomberg) -- HBOS Plc, the U.K.'s biggest home loan provider, and three other banks together representing almost half of British mortgage lending today cut interest rates after government ministers urged a reduction.
HBOS, Edinburgh-based Royal Bank of Scotland Group Plc, Nationwide Building Society and Northern Rock Plc all reduced their so-called standard variable rates by 1.5 percent. Last month, HBOS and RBS agreed to sell stakes to the government, while Northern Rock was nationalized in February.