Calling All Skipton SVR Mortgage Customers and their Supporters Against Interest Hike

sarahbennett

It sets a dangerous precedent for financial institutions to renege on promises. There was no mention that Base Rate itself being low or low for any length of time constitutes "exceptional circumstances." The whole point of the Skipton SVR is you pay more when the bank's base rate is higher and less when lower and never more than 3% above base rate. On March 4th Skipton CEO reiterated that Skipton had made the 3% pledge and will keep it. Since 2008 people who took out SVR loans weren't told they were taking these out in exceptional circumstances. I think Skipton are on very thin ground. A clause in a contract can be clarified but it can't be altered.

I've just set up a facebook group for affected borrowers and supporters:
It doesn't let me post the link but the group number is 309129390147 and the group is called "Skipton Building Society Mortgage Borrowers Against SVR Rise"

There's also a petition that's linked to from the group and accessible outside facebook too, let's see if I can get this down here, no www just:- "petition-dot-zedbox-dot-com"

I'd appreciate any help spreading the word. I've sent a complaint to Skipton and am awaiting their final word. If they insist on breaking their pledge I plan to take the matter to the Financial Ombudsman, FSA and if no joy there go to court for a potentially group action (please let me know if you are affected).

A banking lawyer (commenting on one of these articles) has suggested we'd have at least a 70% chance of success. I would appreciate any help and support or advice from anyone and am very interested in any legal opinions.