The government i hear are going to force the issue with lender that are deliberately withholding rates cuts. so look out nationwide and UCB the wrath of the Public and the government are coming..

Hello

They the government already have the powers i believe to penalise lenders like the NATIONWIDE AND UCB home loans, who are seen to be acting in this way,.

They could use various legislation including the terrorism act, a bit heavy handed i know, AND since the government works for us so to speak, we should encourage them to penalise lenders, who act in this heavy handed fashion, so lets get out there and contact our MP and force the issue.

HERE HERE!!!!!! Trouble is that without legislation (impossible) this will laways happen with the non conforming lenders. If you have a tracker, the rate will be passed on, but the variable rate is in the hands of the lender.

If any of you have a mortgage with UCB part of the Nationwide Building Society then you will find that the latest 1% rate cut is not being passed on.

Instead you get just 0.1% which is a bloody disgrace, the government should slam them down with punitive penalties until they pass on the full 1% cut...

Ministers have warned that lenders could face legal action if they fail to pass on reductions in full.

Rant over

Robert