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UCB Home Loans rate increase!
CK2500
Posts: 7 Forumite
Stupidly I went for the UCB self-certified mortgage recommended to me by my local Nationwide branch several years ago so my rate has just increased from 4.99 to 5.49.
I phoned them to query this increase as they had not bothered to send me a notification letter. The phone call just added to my anger as the customer service rep not only confirmed the increase due to a management risk review but that the new rate for Buy-to-lets was only 5.29.
One thing for sure given the lack of customer service at UCB I won’t be remortgaging with them or Nationwide.
Is it worth trying to complain to the regulatory body? It’s infuriating enough that they are increasing their rates but surely I should have been notified?
I phoned them to query this increase as they had not bothered to send me a notification letter. The phone call just added to my anger as the customer service rep not only confirmed the increase due to a management risk review but that the new rate for Buy-to-lets was only 5.29.
One thing for sure given the lack of customer service at UCB I won’t be remortgaging with them or Nationwide.
Is it worth trying to complain to the regulatory body? It’s infuriating enough that they are increasing their rates but surely I should have been notified?
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Comments
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Your not stupid, you went for what was probably the best thing for you at the time, or thats what you thought. I cant see a complaint be upheld as rates change and they are a watered down version of a sub prime lender.
They were very good at B2L but the whole market has changed. Best thing is talk to a broker, whole of market etc."Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00
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