Who will give their borrowers a break?

It is difficult finding something nice to say about the Halifax, Nationwide, HSBC and Abbey National and their dual rate mortgage policy.

They hatched a plan to attract new customers at the expense of existing ones. It involved setting a new lower variable rate that would only apply to first time or returning customers, not customers already tethered to the old variable rate - a difference of 0.75% at the Halifax.

To make matters worse, if anyone wanted to escape for cheaper policies elsewhere, the banks kept their redemption penalties in place.

Jobs & Money readers Chris and Brooke Wright complained to the financial ombudsman about the Halifax and were told this week that their year-long campaign has been successful. They will now be compensated.

But what about the rest? Is the Halifax planning to trawl through similar policies to determine who else should be compensated? "No," is the bank's answer to that question.

Neither will the Wrights receive an apology, at least not judging by the statements issued by the Halifax. It be lieves it was acting within the rules and did nothing wrong. If anyone else wants compensation they will need to prove their case as well. HSBC has said the same thing.

Maybe the Nationwide, which has also been found guilty by the ombudsman, will show the others how to treat their customers.

If it takes a more ethical stance it won't be obstructive and will pay its customers the compensation they deserve based on the ombudsman's independent judgment.

It should be another moment when a mutual organisation shows the way to go.