C&G Mortgage

GuidoT

Bump,,,,,,,

Thrugelmir

GuidoT wrote: »

You say a decision can be appealed, how can I do this?

They are under no obligation to offer you a new mortgage.

That's the truth of the matter.

GuidoT

I know this, that is why I said in the penultimate paragraph of my first post that no one has an automatic right to credit.

I am trying to explore other avenues, that is why I sought help here.

I have done this twice already on other properties and it took just over half a year for each one and I had to jump through over all sorts of hurdles, but with this one I cannot even get over the first hurdle.

Dave_Ham

I do not think you will get anywhere, although I believe you should at least be told the reason for your non-acceptance.

Therefore you need to put in a formal written complaint, with the heading making it obvious that this is a regulated complaint.

They then have to acknolwedge this complaint, summarising their understanding of this complaint. They then have 8 weeks to investigate and offer you a full response.

If you are unhappy with the full response, then you can take it to the FOS. They will not even look at it, if you have not formally exhausted all options with C&G

Be interesting how you get on, but you must deal with everything in writing...

GuidoT

I put a complaint in writing and was sent a letter stating I was declined on 'affordability when taking into account all the mortgages you hold and also your credit score'. Unfortunately I [C&G] cannot confirm exactly what is causing the decline on the credit score as we do not access to your credit file.'

All vague and unhelpful and does not help in dealing with the problem.

I am not sure if this is my Regulated complaint.

The letter goes on to state this is our final conclusion and I can take it to the FOS.

Dave_Ham

Then you must go to the FOS, presumably stating that they have come to this decision based upon your product and not your circumstances..

C&G will not change their mind on this, but I would imagine the FOS would want a better answer than this as not very transparent.

Would include details of your credit file etc. to support your complaint.

GuidoT

Thank you.

I do not think I will get the FOS to compel them to give me what I want, but at least I will get a proper answer that I can work with or around.

Dave_Ham

Good luck

I can only imagine it will be something that effectively you can buy your way out of, by adding money to reduce the mortgage and protect the rate.

They are not telling you transparently as disadvantages them commercially, not fair and like you say if you know what x figure is you can make a call.

It will not be a quick process though I am afraid.

GuidoT

Thank you again, I am in it for the long haul, I am in no particular rush and can put in further funds.