The One Account

We have a mortgage with The One Account. Now as I understand it they are part of the RBS Group, which as I understand it is now owned by you and me the taxpayer.

So not long ago a nice interest rate cut was announced. What have The One Account done? Nothing. So we get in touch and ask them what their intentions are regarding their interest rates. Apparently they are "reviewing them". Its funny how financial institutions where I have savings didn’t take long to "review" their rates before reducing them.

So given that the company is owned by Government and the Government wants rate cuts to be passed on I am left wondering what the hold up is.

Won’t it be interesting to see what they do if and when we have another rate cut later on in the week. And these banks wonder why customers who have always been a good risk have little time for them these days!

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3 Responses to The One Account

  1. Colin & Carol says:

    We too have our mortgage with the One Accocunt,

    After R.B.S announced they would follow suit with a 1.5% cut..we thought happy days.

    Now we feel robbed by them.as they only passed on 1%.

    If the bank of England pass another cut this this week,rest assured we will not receive the rate cut from the One Acccount.

    This will be our prompt to vote with our feet

  2. Keynesianism says:

    Sorry you are suffering with your mortgage.  I'm on a tracker of base rate +0.18 % with no collar, courtesy of the Woolwich.  If rates get much lower they'll be paying me.  Are you suggesting regulation of banks to make sure they act in the way that you would like?  My answer is to vote with your feet and give them all the negative publicity that they deserve.  What was your banks name again?

  3. editor says:

    They passed on a 1% cut? I must have missed that as we dont appear to have had it. Yes Keynesianism.. that would be THE ONE ACCOUNT, as offered by RBS …. as underwritten by us the taxpayer.

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