If you send me a copy of your latest letter(s) I will use them as the basis for my next reply from them (and/or the Britannia/COOP). I wrote to MAS after the first hike in July and must have got the same fob off that you recieved - I will mirror your questioning process in my replys to them.. I doubt it will change the world but I'm more than willing to be a thorn in their side as they are in mine now! Keep in touch. Cheers - Paul

FYI - in the same annoyed boat! http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/222491-mas-no-5-unethical.html#post2467949

Hi - have had a quick read through and we also took the orig with GMAC who sold to the Brittania and who were recently merged with the COOP (last month) - I have written to the MAS office, Brittania office and COOP office this week to ask for their reasoning behind the increase(s) and if they think it ethical under the current circumstances. I completly understand that banks have to make a profit though dont understand why MAS have increased interest rates when other lenders dont appear to have generally - twice in a couple of months is really taking it!! I will let you have copies of the replys once they come through and would like to highlight this further if only to rubbish their name - if you take any particular action let me know - would also like to track other customers to group together..... Cheers - Paul

Hi, they're part of the COOP now following merger with the Britannia last month - I am currently struggling with them as they have increased the mortgage interest rates TWICE since July by over 1.5% which is immoral given current climate - I've writtren to the COOP to see what thir views are and how ethical they think the MAS group are - have started a string on this Forum - http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/222491-mas-no-5-unethical.html cheers - Paul

Thanks - I hadn't thought of that so will compose a letter and give it a go - thanks - will post any replys as they come through!

Thanks - I've written to the Coop to get their views also - will see what happens!

I have received a second letter from MAS No.5 in 3 months announcing another increase in their interest rates on our mortgage. I challenged the first increase of 0.75% as the Bank of England rates have remained static for some time now and received a 'this is not linked to the BOE base rate or LIBOR rate' and 'we are still competitive' type reply. They have subsequently been taken over by the COOP which was a relief (I thought) as now an ethical company owned the loan I expected that this would filter down to MAS No.5 and that there would be no further unfair increases. Spoke too soon - today there has been another letter increasing the mortgage by a further 0.76% - I will write to MAS and the COOP to see what their justification is behind this though expect a similarly weak reply. Has anyone else challenged these increases and what response have you had? Is it just me or is this unfair and un ethical during tough times when interest rates are at their lowest for a company to increase their loan rates by over 1.5%????? I want to show this company for what it really is though maybe the COOP will see sense in the error of MAS’s ways and do the right thing by borrowers – if anyone has any hints or tips or has had success in challenging them please let me know! Thanks - Paul