mortgage booking fee

clare-iom

Can someone advise me re my booking fee? I was quoted a fee of £399 for a booking fee (with my existing mortage - 2 yr interest only mortgage came to an end) & 3 weeks later when i went to complete the application the fee had changed to £799. On the day I had to accept this change due to the time constraint but I've written to the bank asking for a refund as they did not advise me of the possible changes at the time of my initial meeting. The staff member dealing confirmed with me he did not tell me of the possible increases & accepted he was at fault. The bank have since replied offering me a "ex-gratia payment" of £100 as an "act of good will". Do I fight this or accept the offer?

payless

In the world of mortgages quotes on rates/ fees are usually only valid on day of issue , and not confirmed until application made.

minimike2

I would be happy that they have offered you anything at all and take the £100

clare-iom

Appreciate that but if they did not tell me of the changes they can make - I was quoted that price & the staff have admitted their fault do they not have to accept their error & repay the difference?

payless

IMO Would only be an issue if you had no choice but to pay the increased fee ... but you could have not changed deal or left them totally

payless

Bit like me walking into Tesco's and asking for price of bread. Can't go back 3 weeks later and demnand same price.
If you liked the £399 option you should have comitted there and then.. if they could process

clare-iom

appreciate all the advice given - lesson learnt hey? I just feel very disappointed that the possibility of changing fees was never explained to me & also that i would have definitely committed there & then (which is what I was what I expected to do) but was never given any indication that could be done at that time. I certainly wont make that error again! Thanks to all for replies.