Master the Spreadsheet Costings - They Do Not Lie - They Will Save You £000's

Make Massive Mortgage Savings By Eliminating The Scams & Rip Offs

	WHAT ELSE IS THE FSA TURNING A BLIND EYE TO?

The Absolute Necessity For the existence of Financial OUTRAGE 

A Financial Information Charity is needed to protect the British People from continuing to be 'fleeced' by the Financial Services Industry.

The Evolution of Financial OUTRAGE - from an initial personal financial outrage to a financial outrage that effects everyone.  

It simply started with a MUST NOT BE FAXED TO CUSTOMERS FALSE EXCHANGE RATE SHEET and got much much worse.

James Stewart, the founder of Financial OUTRAGE was previously the MD of EuroCar DIRECT, from Feb-99 until Nov-02, one of the first five car importers set up after Broadspeed took the lead, and was included in 'Who's Who of British Business Excellence 2003' as according to their analysts EuroCar DIRECT was one of the fastest growing companies in the UK by importing over £20 Million pounds worth of cars in just over two years on behalf of their clients and saving them on average around 25% on their cost prices.

He had been the victim of a 'MUST NOT BE FAXED OR COPIED TO CUSTOMERS' false exchange rate fleece eventually receiving some money back after a 4 month titanic struggle which left him shell shocked and traumatised that this could happen when dealing with an organisation that supposedly only exists on trust. 

At that time he thought that they had just tried it on, he did not think for one minute that an organisation that only exists on trust didn't have any document in existence that allowed them to apply different exchange rates.  it was only later that he was able to check and realise that whilst they did have a price list of bank charges for the transfer and security of 'Your Money' by making international payments on your behalf, they did NOT have a price list, tariff, or any other document in existence which additionally allowed them to apply different international exchange rates and also secretly deduct between 1% and 2% from 'Your Money', so the previous meeting with 4 senior managers was merely a 'tissue of untruths' to minimise the amount repaid.  To this day no such document has ever been produced.  

He was amazed to find that despite persistent & relentless lobbying of the regulators, the appropriate Government Departments and the press, no action whatsoever was taken.

Therefore he simply decided to thoroughly investigate what else was untoward in the Financial Services Industry.  

With the use of spreadsheet formulae to make detailed calculations & comparisons easy he was appalled when he calculated what was actually 'going on' in the Mortgage Industry, with the supposed norm of 6.0% on an Interest Only Mortgage being 323% when compared with the best Repayment Mortgage available - an extra interest charge of £101,798 on an average £100,000 mortgage. 

He believed that a reasonable and honest person would consider that level of massive overcharging to be an OUTRAGE.  As he was one of the first five car importers he wanted to be the first to do the same with Mortgages.  Consequently Remortgage NOW (UK) Ltd. was formed, with the aim that, just like when car imports were at their height, everyone in pubs, clubs etc. would be talking about saving thousands on their mortgage and it would be all over the press.  A reasonable and honest person would certainly consider this level of massive overcharging to be newsworthy. 

He was physically sick when he then found out what else was going on, particularly with Endowment Funded Interest Only Mortgages, the details of which are too damning to mention on a Charitable Web Site, but which can be found on our Financial Information Web Site.  This site was only instigated after writing to every Mortgage Provider's Chief Executive in the summer of 2003 asking them to take action.  There was no response apart from 'No comment letters' from two of them and one 'anonymous' phone conversation with another.

Since Jul-02 all of this was reported to the appropriate Government Departments and to the supposed Regulators, and in particular to the bulk of the Financial Media in over 100 different items of correspondence to each, every UK MP twice, and yet nothing was done and no help was obtained from any of these supposed reputable people all in positions of power and trust.

In fact, in late summer 2003 his E Mails were filtered and his phones were diverted to numbers unobtainable, to hinder him in his pursuit of openness and honesty in the Financial Services Industry and eliminate ANY enquiries being received.  The full lengths of what a reasonable and honest person would consider to appear to be a cover up can be found on www.EuroCarDirect.co.uk.  

Everyone in the appropriate positions of power and trust that he considered relevant have been made aware with supporting documentation yet nothing has been done.  

By coincidence the only action was that his incoming communications were blocked and his incoming and outgoing E Mails were filtered.

So the massive overcharging etc. continues unabated.  

James Stewart personally states: "We are all well aware of the misrepresentations, untruths and prevarication in the WMD scenario and subsequent Hutton whitewash, which most of us judge was all about money, and which has left us unable to trust the people in positions of power and trust.  To an honest and reasonable person this Financial Services scenario would appear to be FMD - a Fraud of Mass Deception." 

This has resulted in the absolute necessity to set up of Financial OUTRAGE - a Financial Information Charity with the target of publishing a monthly full page Mortgage Matrix in every national newspaper and every local evening newspapers, so that the majority of people are at least made aware of the massive overcharging and they can then do something about it for themselves now and avoid being 'fleeced' in the future.

29-Apr-04 - yet another Letter to the Financial Services Authority, Banking Code Standards Board and the Mortgage Code Compliance Board - titled - As Supposed Regulators why does the Financial Services Authority, the Mortgage Code Compliance Board & the Banking Code Standards Board NOT Expose the Biggest Frauds, Rip Offs and Scams ever Perpetrated on the British People totalling some £2.3 Trillion Pounds?  - the main Items listed are - The Interest Only 'Endowment Funded' Mortgage (Scam) - The Endowment Shortfall Time Bomb - The ‘criminal’ Mortgage Rate Scams and Rip Offs - The Pensions Crisis - And if that's not enough:- One of the Big Four Banks Is Actually Just Stealing Their Customers Money with the blessing of the FSA  
A copy of the MUST NOT BE FAXED OR COPIED TO CUSTOMERS False Exchange Rate Sheet was attached along with a hard copy of the Free MORTGAGE MATRIX POSTER - Save up to £101,798 in Interest Charges

The first few paragraphs of the letter state the following:

The cruellest and most obscene theft of all is the deliberate, slow, systematic, premeditated and calculated Management driven theft, rip off or scam is by organisations who only exist on trust.

It is much much worse, it is the most despicable act of betrayal to knowingly condone those same thefts, rip offs and scams, by supposed trustworthy Regulators who also only exists on trust.

After long consideration I will not be renewing my MCCB registration no. 5703942 and will not therefore be selling mortgages after 01-May-04. It will be renewed at a later date.

At this moment in time I do not want to be associated with a Financial Services Industry that is based on untruths, misrepresentation and deceit and which has total disregard for their customers.

This will enable me to focus totally on Financial OUTRAGE - a charitable organisation that I have set up in Apr-04 which is investigating, quantifying and exposing the deliberate frauds, rip offs and scams perpetrated on the British people by the Financial Services Industry. Everything has been reported to you many many times since Jul-02 and you do nothing.

The aim of Financial OUTRAGE is to achieve high profile mass exposure of true and full cost summary comparisons through full page monthly media adverts, to eliminate those same frauds, rip offs and scams of a rotten to the core Financial Services industry, weak and failing Regulators and failed Civil Service departments.

I will renew my registration once other like minded honest and caring individuals take over the running of financial OUTRAGE and it is turned into one of the top 500 registered charities.

Footnote:  For your own personal satisfaction we would strongly recommend that you utilise the two Microsoft Excel  spreadsheet templates from our Financial Information Web Site.  It will take you about two hours to become competent in using them.  Then you will be in a position to check every single figure on any of our web sites and never have to rely solely on 'ADVICE' ever again. 

Copyright ©2004 Financial OUTRAGE - A Charity