NAT WEST ...£100? Not Likely !

Hugh_Skint

Nat West persuaded me to have a quote for a re-mortgage when I phoned for a balance on my current account.
They explained that they had new deals and I couldn't lose as I would have £100 if they couldn't better my mortgage and they said they were very confident that they could.
However they couldn't better it .....5.1 % Alliance and Leicester with no set up costs.
I was amazed how easy it was .....£100 , right ? WRONG ..the chap told me gleefully, my mortgage was less then £50,000 so I didn't qualify. Apparently I should have known that as it was on their TV ads????

fairenoughclough

I think you should send a letter of complaint to their head office, they should have asked what size your mortgage was before subjecting you to their sales pitch.

:mad:

ultrak3wl

Yes I think you should complain, I have not seen the ad but it is no doubt in the very small usually white print at the bottom of the screen. I have considered complaining to the ASA about this (generically, not WetNast.) I always actually do try and read the small print, I am a reasonably educated person with an average reading speed and it's impossible for me to read and comprehend it during the short time it is on the screen.

About your probem though, funny that they don't mention the 100 poounds on their website

http://www.natwest.com/personal/services/mortgages/index.asp?navid=PERSONAL/ACCOUNTS_SERVICES/MORTGAGES/REMORTGAGE_DEALS

Fatboy_NSS

The terms of the offer are on their website, as well as their branch windows, in massive print. You have to be at the end of a deal with Abbey, Halifax or C & G to qualify. A&L doesn't qualify and anyway 5.1% is surely during the promotional period so you can't remortgage without penalty anyway.

Hugh_Skint

Hi Fatboy,

OOOps sorry that I didn't make it clear that I am at the end of my deal with C&G and Nat West couldn't better my new offer from A & L. I didn't see the branch windows but finally caught the small white print on the TV ad that shows it is for a mortgage less than £50.000. Whatever .........i don't think many people will qualify for the £100. Do you work for NAt West to defend them so enthusiastically ?
hugh s skint

MarkyMarkD

The offer is a complete non-offer. You did NOT qualify, Hugh, as they are not promising to beat any competitor. They are offering to save you money on your old lender's (and that must be Abbey, Halifax or C&G) SVR - big wow!

Any bank/building society's new mortgages will beat those 3 banks' SVRs - so what!

They won't pay ANYONE the £100.

Hugh_Skint

Hi Marky Mark,

Your reply sums it up clearly and I should have realised that it was a 'no offer' instead of allowing my hopes to be raised momentarily!

I wonder if anyone actually recieves the £100.......hope they post if they do.

Mrs Ima Skint