mortgage offered differs to the one advertised

maebel63

Hello, i wonder if anyone can help with my query.

I have a fixed mortgage that currently ends 31.05.09.

I was checking through my paperwork and noticed that I had responded to an advert in the newspaper where the mortgage was fixed for 3 years and then tracked the B of E rate at + 0.75%. I still have the paper cutting.

Unfortunately, my offer letter states at the end of the period my mortgage will revert to the standard variable rate, this differs to what I responded to in the advert.

I know I am probably on tricky ground as I will get what I signed for. I usually check my offer letters but didnt think to check the small print of the advert, and only came to light now.

I have written to the B Soc and sent the paper cutting and my offer letter and asked for my initial call to be played back.

Just wondered if anyone knows where I stand.

Thank you.

Trying_to_be_good

maebel63 wrote: »

I know I am probably on tricky ground as I will get what I signed for.

Yes, you will get what you agreed to. You, and your adviser/broker, should have checked the detail at the time, unfortunately.

Worth a try to see if they'll honour your advert cutting, but they won't be obliged to. Good luck.

feisty1

maebel63 wrote: »

I have written to the B Soc and sent the paper cutting and my offer letter and asked for my initial call to be played back.
Just wondered if anyone knows where I stand. Thank you.

Not all calls are recorded, the message on an IVR normally says "calls may be recorded etc" .....paper cutting won't mean anything........it is the contract (offer) that is binding

koexelek

maebel63 wrote: »

I know I am probably on tricky ground as I will get what I signed for. I usually check my offer letters but didnt think to check the small print of the advert, and only came to light now.

.

Unfortunately, that will make it safe for the lender

maebel63

thanks all, I guess that would be my reply, do you think it would be worth persuing through the ombudsman that I was not offered the product advertised

MarkyMarkD

No, because they aren't obliged to offer the product advertised. They can withdraw products between advertising and offering.