Bank mortgage error

jangor_2

I would point out that I have not "gone off and decided to sell your house". My decision to sell was only taken in February this year due to my concern that this matter would not be resolved and my anxiety concerning the whole situation. The fact that it took me seven months to discover the error is not strictly true. I queried the repayments with a Woolwich branch in February 2006 and again in March 2006 and was assured everything was "in hand". I do not work in the world of finance and, rather unwisely, tend to trust those who do! Yes you are correct I do not study each monthly statement as I probably should and this has taught me a lesson, although sadly a little late.

As I have said previously, I have been on a fixed rate for several years and am fully aware of the redemption penalty clause, as I was when I signed for the two year fixed rate in 2005. As I have also said I had no intention of moving for several years so there would have been no question of incurring a redemption penalty.

The Woolwich will not be putting me back in the position I would have been in had they not made an error. They wish me to pay at a higher fixed rate and, as I understand it, wish me to enter a new two year fixed contract. If the Woolwich had entered my mortgage into the 4.99% fixed rate correctly (terminating in January 2008) I would not be in this position at all. The Woolwich have made in error and it has been left to me to sort it out as far as I can see. It took several months to make many phone calls and write many letters before I contacted the Ombudsman. I also did follow the Woolwich's instructions to contact a named person to discuss a new product and even he could not understand why I could not be returned to the correct rate! I am in no way blaming the Ombudsman.

I fail to understand your comment that it is "not exactly sensible for someone who's so anxious about their financial position that they subsequently sold their house". I have not yet sold my house and I have explained the reason for attempting to do so.