HSBC have dropped their policy of not having their rate more than 1% above the base rate so therefore aren't going to be passing on any savings of the base rate cut as they promised they would do.
Really gutted, only took the mortgage on the basis that I knew it would always be around the base rate and they couldn't just stick me on whatever rate they felt like, now they've changed it and I'm stuck paying £80 a month more than I should be as are probably millions of other customers. Meaning an extra few hundred million pounds income for them every month which they are not entitled to!!!
I doubt there's any way of getting them to stick to their agreement but really annoyed that someone doesn't step in and force them to.
EDIT - Ignore me, I have pressed them on the matter after their initial answer of "we won't be passing the savings on to our customers" and it turns out that they will if you have the base rate guarentee on your mortgage.