We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Abbey and Halifax SVR compensation claims
skemp1
Posts: 131 Forumite
Hello,
I have just heard that abbey Is writing to around 30,000 customers to inform them that they were not informed that they could change mortgage company When they would drop down on to the SVR from a fixed deal. The Bank of England made a 1% cut of the interest rate and the abbey only passed on half a percent to their customers and they should have advised their customers that they were out of contract and could switch.
In addition to this the Halifax have to agreed to compensate 300,000 customers for the same reason.
My question is, Alliance and Leicester did exactly the same to me, is it worth writing a letter to complain?
Has anyone else tried it? It really caused us financial hardship at the time as our interest rate shot up and even though the Bank of England were cutting rates, it was not being passed on to the customers.
I have just heard that abbey Is writing to around 30,000 customers to inform them that they were not informed that they could change mortgage company When they would drop down on to the SVR from a fixed deal. The Bank of England made a 1% cut of the interest rate and the abbey only passed on half a percent to their customers and they should have advised their customers that they were out of contract and could switch.
In addition to this the Halifax have to agreed to compensate 300,000 customers for the same reason.
My question is, Alliance and Leicester did exactly the same to me, is it worth writing a letter to complain?
Has anyone else tried it? It really caused us financial hardship at the time as our interest rate shot up and even though the Bank of England were cutting rates, it was not being passed on to the customers.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards