Petition..

[Maxie Girl]

Hiya Phillipa,

Long time no speak hun.. Hope you are well..??

Would it be ok to add this here please?? Wasn't sure where exactly to post it though..


Would all of you mind signing this petition for me please..??? It would be muchly appreciated.. Thank you!!

Maxie.x


2nd charge mortgage companies, such as Barclays First Plus, have not reduced interest rates in line with the huge reductions in BoE base rates despite using increases in such rates to trigger interest rate rises to borrowers.

Companies such as these hide behind their Terms and Conditions to take advantage of borrowers and make excessive profits when the cost of borrowing to them is low. Their standard terms and conditions quote a "variable" interest rate but they have no obligation to reduce rates when BoE, or similar indices, fall but can increase rates to their borrowers should rates rise.

A variable interest rate should only be to the benefit of the lender. The government should force the Financial Ombudsman Service, the Financial Services Authority and the Office of Fair Trading to investigate such companies.

The Government should act swiftly to force companies such as these to lower interest rates and rewrite their Terms and Conditions so that they are fair and equitable.




http://petitions.number10.gov.uk/FirstPlusRates/

[Phillipa]

Not only Barclays, but GE I was told their viable interset rate meant, the more I pay off, the lower the interest beomes..no that is not what variable interest means GE.