Ross Maguire questions legality of interest rate increases

upload_2015-4-1_14-3-57.png
 
It makes customer sense that having SVR rates broadly follow market rates is an implicit understanding of SVR mortgages.
.
Therefore not having given a {valid reason} or not having a {valid reason} to go beyond market rates is contrary to contract.

Banks will fight this to Supreme Court and each customer will be picked off.

Is there such a thing as (public interest case) etc?
Or are those of you on SVR prepared to fund a challenge?
Or are you at least prepared to take heavy/costly legal advice?
 
I am definitely prepared to contribute to fund legal costs.So let's get as many as possible involved immediately.
 
I believe this is the basic premise in the case of Millars V FSO and Danske Bank. This has been heard in the Appeals Court in February 2015, Justice Finlay Geoghegan,Justice Kelly and Justice Peart have reserved judgment. Eagerly awaiting.
 
Back
Top