My Fiance is today along with legal friends drafting a letter which will demand a complete expalnation for the rate hikes. At a time when a lot of companies are declaring soaring profits due to low interest costs it seems not inlikely that these rate rises are simply emplaced to raise profit margins. It will be interesting to have the comany books scrutinised by auditors to see where these 20% inceases in overheads have come from and how they align with company profits. We will have these things put to MAS this month and will not let them off until we get a complete explanation. In the mean time a petition of group action would probably help. Something saying that we object to the rises which we believe that no reasobale explanation is ever given and that many people never recieve replies to letters of complaint and that unless we get a full honest explanation we will take a joint action through the obudsman. I notice today the Halifax has been repremaned and ordedered to pay back £500m of interest to people who had been misinformed. What do other consumers think about a PETITION of action to the Ombudsman. It should be easy online,,, Dave

Hi like most of you i am fed up with the likes of MAS raising interest rates both on my tracker and normal mortgage without clear explanation. I rang the FSR financial services regulator today who said that all parties should send in phto copies of their contracts with a covering letter for their scrutiny. They also suggested writing a complaint letter to the company demanding a thorough expalnation of the reasons for inceases and then to take action through the financial ombudsman. I was wondering if anyone has the experience to action a group complaint. My tracker mortgage which should have benefitted me during the low rate period is noew no cheaper than a normal mortgage ... heads they win, tales they win. The more people who move as one the better it would be....Id be interesyted in your thoughts. Dave of Hackney