Arrogant Chelsea!

Ryan23

:mad: Just spoke with one of the Chelsea BS "mortgage advisors" who informed me that the Society's SVR is still at 5.79% - just about the highest of any High Street SVRs. This is also the Society who has cut the least throughout the last hectic cutting of UK SVRs. He informed me that this was a decision taken at the highest level. Couldn't really say why??? He then had the nerve to ask me if I had received my "voting package" for the upcoming AGM Yes, I have - and I voted AGAINST every one of their wretched motions as a small act of revenge on my part. How did I ever get involved with this lot?:cool:

baby_boomer

It looks as if Chelsea is making a decent effort to rebuild its profits & capital ratio after the losses incurred from write downs, the FSCS and the unfortunately large deposit of £55m of our money at certain Icelandic institutions "which had acceptable credit ratings at the time".

Members need to accept some pain to pay for management mistakes.

It didn't stop the chunky medium term windfall (sorry, "performance" bonus) for the bosses, though ( £52K for the boss alone). The Chelsea guys have always been to the fore in looking after no.1.

If you have a mortgage with them on their SVR, you can always look elsewhere as long as you have some equity left in the house because this pain is unlikely to be short term.

nilrem_2

I have been using the Chelsea since 1980 and have not had any problems with them, my only gripe is they are offering very poor interest rates on their Fixed rate accounts ATM, in fact I have just moved one 'pot' away from them when it matured last week as better was offered elsewhere.

Compared to some banks and building societies I 'deal' with I have always found them to be efficient and helpful.