Good evening all, and happy new year,

not been on here for a while as iv'e been waiting for F/P to do a deed of postponment for my re-mortgage and didn't want to jeopodise it! with that sorted it's now back to sorting them out! Have been on the phone to them today about interest rates and got told that they aren't dropping them ( which i knew they would say! )also got told that they don't go by BOE rates, LIBOR rates or even FHBRates, all they do is go by how competative they are against other lenders! i asked how i hadn't had any decrease last year, she went away for about 3 mins then came back with that there was a rate reduction in March but i didn't get it as i was already on their lowest rate, i asked how they could justify that i was on a Variable rate yet wouldn't pass on the reduction because of the rate that i got to start with was good and that they have broke the terms of the contract and will report it to the FSA, FSO and wanted to take the matter further, i was again put on hold for 5mins and then she came back with a different answer, she now says that there was a rate reduction in March followed by an increase in July and Sep and because i only took out the Loan In Jan08 there is a 90 day period that the loan won't increase or decrease in that time, so hence why i didn't get the reduction! i then asked her if that was the case then why didn't they increase my rate in July and Sep as it would have been well out of the 90 day ( so called ) period, she said it was as a good will gesture! some how i don't think so!

I have checked my contract, and there is nothing there about any 90 days grace, there's a bit in section 8 that says

"if there is a variation in the interestrate under condition7, or if you make your first payment more than 30days after this agreement begins, we may by notice to you, vary the amount of monthly payments you will make. This will ensure that your loan will be paid in full, subject to any accrued charges, on the date on which the last of the monthly payments is due"

F/P are in breach of contract that i can see, and have penilised me for having a good rate with them that they started me on!

Crocky, what is the situation on a breach of contract?

One last point that i was told is that any increase or decrease in rates should apply to everyone, we all know that it doesn' happen and when you are writing to F/P, FSA, FSO they should be made aware that there is no continuity to who gets any increase or decrease!

Sorry it has been long winded, but hope this will help in the fight.