Apologies for delay in responding...yes I have the terms and conditions for the loan and this is exactly what it states,however,I have now written to HSBC on three occasions requesting that they look into my account and the difference in their interest rates,what I have been paying and what I should have been paying. To date I have not even received an acknowledgement of receipt of any of my letters. I have been attempting to deal with my local branch but am considering escalating to head office as I can only think that the local branch are ignoring my request as there may be quite a lot of work involved in calculating my overpayments. Also,shouldn't HSBC have been doing this as a matter of course as a part of my agreement?

If I have taken a loan out on APR 12:4% Variable rate,which at the time of taking out the loan in 2005 was 7:0% over HSBC's base rate,should my repayments not have reduced as the interest rates have reduced over the last 7 years?