One Account rates cut

spence

Fair play to you musicegbdf, its good to see somebody taking them on. The trouble is your fighting a losing battle. They have no interest in their customers any more and are looking for every oppurtunity they can to stitch us up. If you shut down this loop hole they will find another. Its time to vote with our feet, hopefully when enough leave they will change their attitude and make it better for those left behind.

Good luck to you though, stick it to the scumbags.

Does anyone know about collars on the OA? I can see that being the next hurdle, I'm hoping they haven't got one else thats us screwed!

Yorkshire_Bred

I agree, the next interest rate decision is on the 8th January so we must start to increase pressure in all areas in advance of the predicted rate cut! anything less than an immediate cut in line with the BOE will leave us even further behind than where we should be now.......

Yorkshire_Bred

Nationwide have announced they are not going to pass on any further BOE base rate cuts to customers, I wonder how many more mortgage providers will follow suit?

lrr_2

They are just enforcing the clause in their tracker rate. I think all the banks that have this will do it but shouldnt affect us as they keep telling us its not a tracker mortgage!

musicegbdf

spence wrote: »

Fair play to you musicegbdf, its good to see somebody taking them on. The trouble is your fighting a losing battle. They have no interest in their customers any more and are looking for every oppurtunity they can to stitch us up. If you shut down this loop hole they will find another. Its time to vote with our feet, hopefully when enough leave they will change their attitude and make it better for those left behind.

Good luck to you though, stick it to the scumbags.

Does anyone know about collars on the OA? I can see that being the next hurdle, I'm hoping they haven't got one else thats us screwed!

You may be right , but my MP has also become involved and seems to be taking an active interest (he is conservative). To me the key point is that the promises made were formal and in writing , and as far as I am concerned these were highlighted far more than the "terms and conditions" so I see them as part of my contract.
I therefore see RBS as being in breech of contract. The question is what do I want to achieve ? I want them to honor these terms or at least be fined for breaking them, and forced to honor them. Yes I can move elsewhere , but I don't trust any of them now , and why should I have to pay to move (valuation fee's ,etc.)
Now I have started I do not want to give in .........

Princess_Coupon

musicegbdf wrote: »

I want them to honor these terms or at least be fined for breaking them quote]

Then they'll put the rate up to cover them

karanda

musicegbdf wrote: »

Not yet got my final response letter , expect one soon. My main gripe is the fact they have gone back on "Formal" promises made and now leave us in a state of limbo.
It does seem some of the fury has gone from a number of people on this forum (until the next rate cut) , so in this way most seem to have been bought off.
VO will then be able to use this precedent . I intend to carry on with the procedure to the financial ombudsman , but expect to be in the minority.

My case has been with the Financial Ombudsman now for several months, and I have just received a letter from them saying they are now investigating my complaint. It is definitely worth complaining to the FO - I did so when I had a complaint against Nationwide many years ago, and was impressed by the FO's thoroughness, understanding of my complaint, and their application of sheer common sense.

Of course, I may not get the answer I want to hear from them, but at least I will know where I stand - then I can make a decision to stay, go, etc. My main complaint against this dreadful bank is the total lack of honesty and transparancy. Once the Financial Ombudsman's decision is out in the public domain, the One Account's veil of deceit will be lifted once and for all.

Simply moving from the One Account to another without any clarity seems to me to be endorsing the One Account's total lack of ethics. I want them to be accountable - one way or the other.

The more complaints received by the Financial Ombudsman against the One Account, the stronger our case.

DickDastardly_2

Princess_Coupon wrote: »

musicegbdf wrote: »

I want them to honor these terms or at least be fined for breaking them quote]

Then they'll put the rate up to cover them

I understand your view but following the logic in that case, it is utterly pointless even having a board like this to take on the major monopolies when they act with complete disregard to their customers is it not?

I am sure that ALL banks will get round whatever is thrown at them, but eventually, the customer must win. If they don't, and honesty and parity is not returned to the marketplace, then capitalism is, as Marx once claimed, sowing the seeds of its own destruction.......at which point mortgages won't really count.

musicegbdf

karanda wrote: »

My case has been with the Financial Ombudsman now for several months, and I have just received a letter from them saying they are now investigating my complaint. It is definitely worth complaining to the FO - I did so when I had a complaint against Nationwide many years ago, and was impressed by the FO's thoroughness, understanding of my complaint, and their application of sheer common sense.

Of course, I may not get the answer I want to hear from them, but at least I will know where I stand - then I can make a decision to stay, go, etc. My main complaint against this dreadful bank is the total lack of honesty and transparancy. Once the Financial Ombudsman's decision is out in the public domain, the One Account's veil of deceit will be lifted once and for all.

Simply moving from the One Account to another without any clarity seems to me to be endorsing the One Account's total lack of ethics. I want them to be accountable - one way or the other.

The more complaints received by the Financial Ombudsman against the One Account, the stronger our case.

Spot on , that,s what I think. I had another bland letter stating again the old "terms and conditions" bit , the key point I will be taking to the FO is that if a company advertising "price promises" acts on those promises for 9 years and reaffirms these in letters , this forms part of the contract as a matter of custom and practice and they should not be allowed to renege on these because they never ratified them in the terms and conditions. This will also be my approach with my MP , who as I say has shown interest in my case , and written to Alistair Darling on my behalf.

spence

Right then guys I've been won over by your valid points and feel I should put my weight behind uou in this fight.

I've only been with the OA since June '07, so I can't quote years of letters etc. What points should I put forward and how do I get in contact with the FO? Should I also contact my MP?