House of Commons
As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.
NORTHERN ROCK BUILDING SOCIETY
EDM #573
Tabled 24 February 1997
1996-97 Session
That this House is appalled at the policy of the management of the Northern Rock Building Society who, since the announcement of their intention to float on the Stock Market, have held both their borrowers and investors to ransom by charging above average interest rates on investment accounts safe in the knowledge that huge numbers of their customers are trapped in their respective accounts in fear of missing out on conversion shares; furthermore notes that they doubled the Government's one quarter point base rate rise to their borrowers on 1st January, which they have now reversed by a cut of one fifth of a point, which has resulted in a cost to the typical Northern Rock borrower of ú30, which should be repaid; and is not surprised that the Northern Rock has one of the worst reputations in the industry.

Signatures (28)