advice for mortgage!!!trouble with bank!

SouthCoast

Legal advice can be found here:

http://www.clsdirect.org.uk/

burcrita1

silvercar wrote: »

Was this a fixed rate you took out with your existing lender? Or a mortgage with a new provider?

yes it is with existing lender and we fixed it for 2 years

burcrita1

dunstonh wrote: »

The award of £200 by the FOS is generally where there is no real case to answer but the bank hasnt really acted in a professional manner so its a goodwill gesture.



Good luck on finding a solicitor that will tell you that you have a case and they will take it on for you.

would u advise me to take £200 and forget about it.?

dunstonh

The FOS generally follow what a court of law would do. Although there is a slight bias to consumer in that the FOS do disregard certain documents that a court wouldnt.

The bank didnt think you had a case so they rejected your complaint. The FOS dont think you have a case as the award would be more than the standard poor service goodwill gesture. So, are the courts going to think differently?

It also needs to be noted that you still made the application and despite being told something incorrectly, the application would have been acted on by the time you made the phone call. By that time you would have had product details and a KFI issued to you. No adviser was involved so you take on that responsbility. The wrong information on the phone didnt change the fact that you were already committed to that mortgage deal.

The phone call gave you the response that would be correct for new borrowing. Not for changing deals with the same lender. However, if the correct information had been given it would have been, sorry you are too late. Therefore you are not financially worse off due to the error and why its only a goodwill gesture payment.