Re-mortgage problems: Advice please

paul2205

Any advice or help please:

I applied with the Woolwich, for a rate change 12/12/06, to there 4.99% rate which was fixed for 10 years, I considered this to be the best deal around at the time. I filled out all the relevant paper work and submitted my details along with the (substantial) fee of £695 cheque, which was stapelled to the completed forms, my wife and I double checked this at the time.
I was originally told that completion should be between 6-8 weeks, fair enough, anyway after the 7th week I called for an update, and told it was all in hand and due to a massive uptake of this deal that they are quite behind, but assured that everything was in progress! then I called 3 or 4 times after that, near enough on a weekly basis. so now we are into the 13th week! and in desperation I called yesterday (10th March) only to be told, that they have not received my fee, I have checked my bank, the cheque has not been cashed. So, I have been on there SVR of 7.4% for 3 months now instead of the 4.99%, which is quite a difference in monetary terms, I was originally told by the woolwich that they would back date my payments from the moment they received the completed forms and fee, now they are saying that as they have not received the fee, they are unable to honour that. So the total that I am out of pocket is probally in the region of £1300-1400 (including the fees)

Where do I stand on this, I have logged a complaint, but I'm not very hopefull!

Sorry for the length of mail, also has anybody else had this happen to them? This could be a way of the Woolwich making/ clawing back some of there money?

Regards
Paul

dunstonh

Where do I stand on this, I have logged a complaint, but I'm not very hopefully!

You wait and see. They may not be able to honour the original deal but you may get some financial redress to make up the difference over the period of the deal.

This could be a way of the Woolwich making/ clawing back some of there money?

There is no conspiracy theory. Some clerk in the branch isn't sitting there thinking like that. Plus the FSA would hit them hard.

Most likely, it's sat on a desk whilst someone has been ill or gone on holiday and when they realised it, it was sent off then but the cheque has become detached from the paperwork.

paul2205

Had a phone call Yesterday, from the complaints department, fully apologising, re-turning all monies that I have paid on the SVR and back dating the original offer to when they received the completted forms.

So It looks like I result.