Bank of Ireland increase differential on tracker rates

Reply to the comment left by "Colin Childs" at "05/02/2014 - 22:12":

I disagree. Tell people the institution they have had confidence in since their childhood, open their eyes to the reality of the situation and you may find them vote with their feet. Do people treat Tesco the same now? 15,000 people cannot hope to make a major splash in a population of 70 million unless they are far more visible, and forceful. That's why it's vital.

Tracker Rate Campaign – Briefing Notes for MP’s

Please see >>> http://www.property118.com/tracker-rate-campaign-briefing-notes-for-mps/63465/
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Reply to the comment left by "Paul Brindley" at "06/02/2014 - 06:45":

Paul,

I agree that scandals such as the horse meat saga and indeed the misselling of PPI have had an impact on public perceptions of varied institutions. But- and this is a big but - media wise inparticular the left leaning BBC will portray any demo style dispute as a battle between the banks ( who are not number one on the populations Xmas card list) and Landlords ( who most certainly are not) The fact that a large proportion of affected borrowers are residential will be lost in the media hype.

Horse meat and banks affected millions. At the moment BOI affects 13,500 plus the West Brom borrowers. Unless and if the tracker rate scandal expands ( hopefully not) that is when the pips will start to squeak.

Reply to the comment left by "Mark Alexander" at "06/02/2014 - 09:38":

Hi Mark, I am really frustrated that my MP does not reply so I was going to write again.

Your advice please: Should I send the PDF to my MP in its entirety i.e. with the graphics, "we can win" and the contact details at the bottom, with the links to the forum etc? Thanks

Reply to the comment left by "LS " at "06/02/2014 - 10:23":

Yes why not. I'd also suggest a follow up call to his office number in Parliament. I find that 4:30 to 5pm is the best time to make contact.

Good luck 🙂
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Have heard from Geoffrey Clifton Brown (Cotswold) exceedingly long letter but nothing interesting. Basically, government doesn't intervene in lenders commercial decisions.Treasury only sets framework. FCA investigated, decided BOI change was OK, (no mention WBBS.) Mortgage regs. 2004 drew distinction between buy to let and homeowners (he missed point some were homeowners) Government committed to minimising regulatory burden to avoid imposing additional costs on business that ultimately leads to higher costs to customers. That we could contact money advice service. EDM's cost too much and he rarely signs.

Reply to the comment left by "LS " at "06/02/2014 - 14:05":

Excellent, at least he's done some research and taken the trouble to write you a long letter.

The fact that much of his response is wrong is by the by at this stage 🙂

You now have an opportunity to write back to him, thank him for his research and ask him to consider the briefing note which has lead to 39 of his peers signing the EDM, calling for a 90 minute debate and lobbying both the Chancellor and other Treasury Ministers.

PDF here >>> https://www.property118.com/wp-content/uploads/2014/02/Tracker-Rate-Campaign-Briefing-Notes-for-MPs.pdf
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Reply to the comment left by "Mark Alexander" at "06/02/2014 - 14:30":

Thanks Mark, will do. I looked at the list of EDM's (we have more signatures than most which is good) looking at the signatories on many of them it does seem to bear out the principle that the conservative party do not sign EDM's, not just ours. http://www.parliament.uk/business/publications/business-papers/commons/early-day-motions/edms-by-number/

Reply to the comment left by "Paul Brindley" at "06/02/2014 - 06:45":

Skipton BS's rate change impacted 64,000 borrowers around this time 4 years ago. Where was the Light Brigade then? Subsequently Norwich & Peterborough didn't even warrant the news. People become interested and personally engaged in a topic for a reason. Cynically I add even politicians. As the current crop certainly lacks any commercial expertise. Being in the main career ones rather than having achieved anything of note previously.

Amongst other moves. 14,000 BOI mortgages were offloaded to the Mortgage Works in December 2011. These borrowers then all went onto to suffer an increase in rates. Totally above board. May well happen again given BOI's stance on their banking operations in the UK. Odds on that the PO/BOI joint venture will be floated and sold at some point. So really doesn't warrant the attention. There's a much bigger game in play that's been rolling along for several years.

Reply to the comment left by "Colin Childs" at "06/02/2014 - 18:26":

There is indeed a bigger game being played out, with innocent members of the public having money stolen from them by the banks to repair their own balance sheets. But BOFI is different - it is a foreign bank masquerading as the good old Post Office we've all had accounts with since we were babies, because our grandparents opened them because the Post Office was a good old fashioned British institution. It's because the trust in such an institution is abused that Joe and Joanne Public will back you. A bit like the furore over the Bbc or the NHS and its dodgy celebs not being prevented from abusing kids - shatter people's illusions, open their eyes and you have more of a chance of action.
And in this case, you have a story you don't have elsewhere- you're bailing out a foreign country and foreign borrowers, it's not as if you're repairing the uk balance sheet for the benefit of uk people dealing with the bank. Throw in a bit of Conservative paranoia over UKIP claims they're not doing enough to protect Blighty, an election soon and you have a window of opportunity to get action. The Conservatives are really very worried about not capturing the UKIP swing vote at the moment.