Do I have a case for complaint?

Leon_W

It seems what has happened here is that the original lender has moved the end date of the fixed rate. This is very common. Say Halifax have a 2 year deal with an end date of Sept 2010, in a month or so's time, they may keep the rate and all the fees exactly the same but just move the end date to Oct 2010. With Me ?

Now the problem is this. The Key Facts (that you were given) stipulate an end date (and also state they are valid ONLY on the day given) there may have been a delay of a couple of weeks between the broker giving you the illustration and you putting in an application, during which the lender has moved the end date !

The offer is the contract not the Key Facts so that is your reference point. But, I do think the broker should take some responsibility here as he should have made sure that you had the appropriate key facts for the mortgage you were applying for. However, I don't think this absolves your responsibility to have read the offer document. Perhaps a 50/50 compromise could be sought ?

Best of luck.

MoscowFlyer

That is true, but I sent them an email back in April this year, and this is the reply I got.

>Hi ****
>
>I will try and answer your queries but, if I have got the wrong end
>of the stick the sorry and please call me to discuss.
>
>Your existing deals end on 31/08/2008. Until that date your penalty
>is: £10,262. After that date you will only pay a £200 admin fee for
>closing the mortgage. (Please see the attached details on the mortgage
>product you took out).
>
>So if you are looking to sell then the completion should not take
>place until after 1/9/2008.


They've gone on this basis when setting up my remortgage, so you can see why I trusted this to be a matter of fact.

Also, what you say inyour first paragraph makes sense, but the fixed rate has definitely ended, as they've advised me of this in writing along with details of my new payments.

silvercar

So you are talking of two months having to pay £400 more than currently before you are eligible to move penalty free.

Although £800 may seem a lot of money now, to a lender they will not repossess for that amount, especially as you will make your normal payment. Your broker (who has to take some blame) should be able to source a similar deal for you to start on 1 November. I would say it is resoanbale to expect the broker to pay any costs you have in arranging this being he got the dates wrong for the aborted mortgage application and the extra interest charged on the solicitor holding the new mortgage.

The 2 x £400 is money you would have had to pay if he had correctly looked at the redemption penalty end date.

MoscowFlyer

Yes, I do appreciate this, I think it's more the fact that we could have planned ahead for the extra and not had it as such a worry. My wife is seven months pregnant and the stress of the past week has really not sone her any good at all. We could have actually found this out two weeks ago had the solicitors (who the lenders recommend) done their job properly.

It's just the amount of time wasted and stress caused, not to mention money lost, even disregarding the new repayments on our current deal.