Abbey 3.95%.....

JC23_2

I was sold an Abbey 5 year fixed rate deal at 3.95% back in March. It's taken them ages to process, due to their error around the spelling of my name mostly. They sent me an offer back in May, then, today, they've announced that I can't have the deal after all as it's only available to current Abbey customers. Two abbey employees failed to mention this to me and it was no where on their website as far as I can remember. It's also not in my key facts document. Am I being paranoid, or are they just trying to get out of such a good deal? Help! Do I have any rights?

Trying_to_be_good

I would think if you've signed and returned the offer, and paid the arrangement fee and any valuation/legal fee you'd stand a good chance of getting the rate quoted.

If you've not signed and returned the offer, or not paid the fees, they have far less moral obligation to give you the deal.

Good luck

skiTTish

Have their rates just gone up by any chance so they are trying to get out of it ?

JC23_2

Thanks for those responses, that's reassuring.

I have paid the fees, in fact, I've given them my card details three times, but they keep coming back to me claiming they have 'timed out' - I have had a sense all a long that they were trying to get out of giving me this deal.

I got the offer direct from Abbey, no broker involved. I have had it in writing and signed and returned the paperwork and supporting documents long ago.

I have argued that I would have got a better deal elsewhere at the time, in response, they have offered me a deal that they claim I would have been entitled to with them back in March. This is 1% higher that the 3.95% deal. They have agreed to waive almost all the fees, give me a free valuation and free solicitor. This would leave me about £2000 out of pocket over 5 years.

My problem is that the ombudsman gives banks 8 weeks to respond to a written complaint- my offer expires at the end of August, this new deal they have offered me is only on the table for a vague 'few days' whatever that means.

How can I get evidence that this product was not marketed as exclusively for Abbey customers, back in March. I'm convinced I would have noticed it and I think they're lying to wriggle out of a deal that makes no business sense for them.

Equally, the new deal they have offered me is better than what's currently on the market and I don't want to cut off my nose to spite my face and miss out completely.

JC23_2

Finally, after I mentioned the Obudsman and asked them to prove with old marketing material that this deal was only for existing customers, Abbey suddenly decided I could have the product as a 'one off'....

So all's well that ends well. It's been a real insight for me, a) into the fact that it's always the right thing to fight for your rights and b) that banks will be underhand if backed into a corner..... I suppose they're very unhappy that I'll be paying 3.95% for the next 5 years and are currently scrabbling about for every penny...

Ditto

Well done for fighting your corner and not backing down:beer: