The nationwide building society has allowed UCB home loans, one of the companies it owns, to not pass on in full the latest 1% drop in interest rates by the bank of England.
This is akin to sticking two fingers up to Gordon Brown and the UK government
So the new rate is 4.79% instead of 3.8% one hell of a difference, the government i hear is going to force the issue..
If you have a mortgage with UCB add your comments below and lets force the issue.
If we all went rather radical and refused to pay our mortgages for a month UCB would collapse..
Links from the web about UCB mortgages and home loans not dropping rates.
UCB mortgages Plus UCB mortgages rate cut and UCB NOT PASSING RATE CUT
5 responses so far ↓
Graham Head // February 2, 2009 at 11:53 am |
What do you think will happen to the rates on the 5th February?
Also, now that we the public pretty much own the banks. Why can we notforce them to lower interest rates?
UCB rates high // February 2, 2009 at 3:42 pm |
Hi Grahaam
UCB home loans are currently charging 4.79% for February payment, which is way to high, these rogue lenders need to brought under control.
Public opinion needs to be raised, other wise Money will not be spent in the economy as Gordon Brown and the bank of England want.
UCB Customer // February 18, 2009 at 10:43 pm |
Why do UCB feel the need to exploit their customers ?
Please answer this?
I wrote complaining about the extorniate charges and their response was
“I can confirm that UCB Homeloans is not under any obligation to apply any bank base rate reductions to the variable rate either in part or in full”
The above statement which they made is unfounded as their is a code of practice of treateing customers fairly which is certainly not what UCB are doing. They are breaking FSA guidelines. MORE AND MORE PEOPLE NEED TO COMPLAIN ABOUT UNFAIR TREATMENT, Their treatment is like the childhood bully.
UCB rates high // February 19, 2009 at 7:55 am |
Hi
More should complain and to this end we have sent a petition request to the Prime minister.
We the undersigned petition the Prime Minister to Regulate lenders that fail to offer fair mortgage rates
Deadline to sign up by: 19 March 2009
Category: Economics and finance
More details:
UCB home loans part of the Nationwide building society are charging 4.79 % variable rate of interest, this makes them almost loan sharks in the current climate.
If the UK government would like mortgage holders to spend more in the economy.
Then lenders like UCB home loans, have to be encouraged to drop their unfair mortgage interst rates.
Will update you when its live
Perry // March 24, 2009 at 8:59 am |
UCB are nothing more than legalised robbers. They should not be allowed to get away with blatantly ignoring Government recomendations and should be made to compensate those they have stolen from.