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HSBC 2 yae fixed Mortgage 2007
worthingmike
Posts: 2 Newbie
HSBC two year fixed rate
In 2007 I had an eight-year mortgage remaining.
I locked in to an HSBC TWO year fixed rate at 5.79% the fee was £499
Mortgage actually ends May 2015 [has six years to run, back on the variable rate]
That two year fixed ended May 2009 at the end of the FIXED RATE period.
HSBC instead of returning me to my guaranteed "variable rate at no more than 1% above base currently 1.5%
Have unilateral imposed a “new rate” of 3.45% above base of 3.95% [apr4%] to my Mortgage account.
The OFFER document March 2007 and the Mortgage completion document April 2007 There was no mention of this 3.45% ABOVE BASE RATE or loss of my guaranteed "variable rate at no more than 1% above base
Despite my immediate objection HSBC have applied this unilateral 3.45% above base and removed from my account £245 more the first month than they should, to cover this increase from 1.50% to 3.95%
That’s 2.45% more than I should be paying. I have calculated that if not reversed this will cost me an additional £17,640 over the final six years of this eight year contract.
How many more unsuspecting HSBC customers who took a two year fixed in 2007 are now swelling HSBC's profits or perhaps replacing the money HSBC lost with Bernard Madoff.
My letter to HSBC arguing that this is an error or the contract is in contravention of Unfair Terms in Consumer Contracts Regulations 1999.
Time is on HSBC side they will just keep plundering my account of this extra £245 per month until resolved. We know that HSBC can play delaying tactics for as long as it suits them.
Anyone else having a similar problem or are you one of the millions who wouldn't know if you were being charged the wrong rate?
If you are offered to have any complaint referred to the Financial Ombudsman Service… Don’t, can take a year and the Financial Ombudsman Service is not a government department. It’s a QUANGO financed by the very people and companies that you are complaining about. My impression was that they cared more about the arrival of the
Sandwich trolley so as to speak that getting to the bottom of the matter that you are complaining about.
In 2007 I had an eight-year mortgage remaining.
I locked in to an HSBC TWO year fixed rate at 5.79% the fee was £499
Mortgage actually ends May 2015 [has six years to run, back on the variable rate]
That two year fixed ended May 2009 at the end of the FIXED RATE period.
HSBC instead of returning me to my guaranteed "variable rate at no more than 1% above base currently 1.5%
Have unilateral imposed a “new rate” of 3.45% above base of 3.95% [apr4%] to my Mortgage account.
The OFFER document March 2007 and the Mortgage completion document April 2007 There was no mention of this 3.45% ABOVE BASE RATE or loss of my guaranteed "variable rate at no more than 1% above base
Despite my immediate objection HSBC have applied this unilateral 3.45% above base and removed from my account £245 more the first month than they should, to cover this increase from 1.50% to 3.95%
That’s 2.45% more than I should be paying. I have calculated that if not reversed this will cost me an additional £17,640 over the final six years of this eight year contract.
How many more unsuspecting HSBC customers who took a two year fixed in 2007 are now swelling HSBC's profits or perhaps replacing the money HSBC lost with Bernard Madoff.
My letter to HSBC arguing that this is an error or the contract is in contravention of Unfair Terms in Consumer Contracts Regulations 1999.
Time is on HSBC side they will just keep plundering my account of this extra £245 per month until resolved. We know that HSBC can play delaying tactics for as long as it suits them.
Anyone else having a similar problem or are you one of the millions who wouldn't know if you were being charged the wrong rate?
If you are offered to have any complaint referred to the Financial Ombudsman Service… Don’t, can take a year and the Financial Ombudsman Service is not a government department. It’s a QUANGO financed by the very people and companies that you are complaining about. My impression was that they cared more about the arrival of the
Sandwich trolley so as to speak that getting to the bottom of the matter that you are complaining about.
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Comments
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You may want to edit the post, removing the capital letters, mix of font sizes, bold and underlined text, etc.
It's quite hard to read at the moment.0 -
SPAM.Complete SPAM. Never heard so much rubbish in my life!Motto: 'If you don't ask, you don't get!!'
Remember to say thank you to people who help you out!
Also, thank you to people who help me out.0
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