Despite all their protestations, do you really think that the government will actually do anything to force the banks and the building societies to pass on the benefits of the interest rate cut to the mortgage-paying public?
No, nor do I.
At this very moment, somewhere there is a Treasury flunkey, in confidence of course, assuring the bank bosses that ministers have to say these kind of things for political reasons and that there is no need to worry.
And Hazel Blears thinks bloggers are cynical?
2 comments:
Sorry, HW, I think they did.
Customers need to stand up. If you don't get the interest rate cut passed on, withhold the mortgage for a month. One person does it - very bad for the individual, risk of repossession. Ten thousand people do it - very bad for the banks, can't do much about it, such a public protest would upset their cash flow and share price...could push them over the edge!
I've got a tracker by the way!
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