The Financial Ombudsman has recently issued a decision on Abbey National dual SVR mortgage rates.

Abbey National have stated that they will only pay compensation from the date an affected mortgage account holder complained.

My mate has sent the following "Letter Before Action" to the FOS today. He will be issuing a Judicial Review claim in the High Court if they do not revise their decision on Abbey National dual SVR mortgage rates.

If loads of people sent the same type of letter to the FOS, regarding Halifax, C&G and Abbey National dual SVR mortgage rates. Then the FOS would be forced to change its stance.

Failing which, make a Judicial Review claim to the High Court for just £30, followed by another £120 if the court accepts that your claim has merit. Then a judge has to rule if the FOS have got it right.

The more people that send these letters, and register claims, the better.

Good Luck

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Ref; xxxxxxxxxxxxxx Abbey National dual SVR mortgage rates

Letter Before Action

Dear Sir,

Abbey National have now publicised a statement concerning your decision on dual SVR mortgage rates. I have attached a copy of the Abbey National statement for your information. I am most disappointed that the Financial Ombudsman ruling does not require Abbey National to immediately fully compensate ALL affected mortgage account holders, from the inception of the so called “Tracker” mortgage rate.

In addition, the decision issued to Abbey National, which has not yet been published, is not clear in the requirements for compensation. This has allowed Abbey National to interpret the decision as it see’s fit. And they have decided to minimise their liability by excluding the vast majority of affected Abbey national mortgage account holders.

This is just unacceptable; Dual SVR mortgage rates were unfair, they were in fact a form of theft and deception. The Financial Ombudsman owes the public a duty to be clear and concise with the ruling on this matter.

This is unfair to Nationwide Building Society, who I believe, have correctly compensated ALL their affected dual SVR mortgage account holders.

It is unfair to all affected Abbey National mortgage account holders; they should be compensated regardless of when they complained, or even if they have complained.

I require the Financial Ombudsman to review and revise it’s decision on dual SVR mortgage rates concerning Abbey National. I require the Financial Ombudsman to direct Abbey National to compensate ALL affected mortgage account holders that have complained, and ALL mortgage account holders that are still to complain. If the Financial Ombudsman has not revised their decision as requested within fourteen days then I shall issue a Judicial Review claim concerning this matter.

Yours sincerely

-- Harry (pearson_harry@hotmail.com), September 03, 2002