One Account rates cut

Poj

my question:

the PM just said he hopes & expects the banks to pass on the latest 1% cut to customers.

I am a customer of the One Account - wholly owned by RBS, and therefore largely by the government.

They only passed on 1% of last month's 1.5% rate cut, and we have no guarantee they will pass on any of this latest cut.

Can you ask the PM, as majority shareholder, can he MAKE RBS pass on these cuts to us?

He replied saying that the government has only bought in for the short-term, and that it doesn't want to get involved in the day-to-day decisions of management. But that he would expect the cut to be passed on.

Insider_knowledge

Right I just used the writetothem site to send a letter to all my local councillors, my local MP, my MSP, and as many conservatives as I can find...

Also channel 4 news, and all newspapers.
BBC Radio 4 would also be a good place to post, on Mr Robert Preston's blog, or on PM blog or the meggage boards, I can't post to BBC because I questioned the license fee's future and was promptly banned.

apap

Lots of hot air!!

I dont think anybody takes PM's promises seriously nowathesedays.

If you listened to the news broadcasts after yesterdays big headline about goverment defering interest rates up to 2 years , no body seemed to believe him.

Poj

I agree.

But at least he's been made aware of it, & you never know, he might have a quiet word in someone's ear. [there goes that pig flying past my window again]

He certainly confirmed that all our tax money has been given to RBS, without any strings attached, or the government having any influence in any way.

I know this is something the Tories are having a go at Labour about, so more ammunition to them.

Princess_Coupon

Saran wrote: »

Me too.

Interestingly it is signed by Craig Calder, RBS Mortgages.

OA not RBS? Can't get their story straight it seems...

Mine is signed Louisa Smith

Wingnutz

Have e-mailed my MP - a certain Mr Cameron - along the lines of the points set out in post 295 on page 16 of this thread. I await to see what OA / RBS do in light of todays 1% cut.

RCG99

Poj wrote: »

He replied saying that the government has only bought in for the short-term, and that it doesn't want to get involved in the day-to-day decisions of management. But that he would expect the cut to be passed on.

How can Gordon Brown give RBS £20 billion of tax payers money then say he "doesnt want to get involved in day to day decisions of management" ?

If I ploughed £20bn into a company I would have a BIG say in decisions of day to day management.

the man's an idiot. Nuff said!

Princess_Coupon

jtcedinburgh wrote: »

Also, what *is* the lowest tier? I've a mortgage of ~£80k and savings offsetting of around £30k at present. House was valued at time of taking mortgage out (2004) at £175k, which means LTV is <50%, but I am sure I'm paying 6.2% still. Is that correct?

As of 30/11 I am paying 5.05% and OA assure me it is the lowest rate they do

Insider_knowledge

I have emailed George Osbourne and David Cameron also...hopefully they will take this opportunity to ask questions we the people are not in a position to ask, and demand answers about where all our tax money is going..and what RBSG is giving us for it.

Soon to be broke and homeless middle england

serendipity101

Well Done to Poj, for getting his email read out on 5-Live to Gordon Brown!
I have just had a reply to my email to my local MP Rbert Syms:

'Hi thanks for your recent @mail on the cost of your Mortgage..i
understand your concern I have had many complaints from constituents
dealing with banks and Building societies.Part of the problem is that
the cost of money to banks is not the minimum lending rate which dropped
1.5 %..but the 3 month interbank rate witch remains nearly 3 pints
higher..the Government bank rescue was meant to reduce this but has so
far failed..until this reduces and banks start lending to each other...i
think customers will continue to have a torrid time. Sorry not to be
more hopefull regards Robert SYMS MP'

Am disappointed with his reply,but will continue to raise awareness.