Bank !!!!-up, offer of compensation

privs

I took a personal loan out with my bank of 17yrs last November for £5700.
They included Personal Loan Protection, which i had big problems in getting taken off within the cooling off period.

Eventually a new loan was drawn up for me. However this was done in a different branch, and consisted of me signing a handwritten statement (with no figures in it). I found out olater that the loan was made out for £7100. In error, they had included the amount for PLP ie £1400.

I unwittingly then went around my business for the next 6 weeks, thinking I was rather flush, only to find out why when the loan repayment details eventually came through (but still no copy of a signed loan agreement).

I've obviously complained, my branch has now found an unsigned loan agreement, and have mentioned compensation. What shall I agree to? I've no idea or experience of these matters....

privs

Anyone got any ideas? Can someone point me in another direction?

brownie2

tbh I cant see why they cant write off the £7100 loan and give you the loan you originally requested.

privs

That'd be ideal, but looking at my email, I can see a flaw. I didn't mention I unwittingly spent half of the £1400 over about two months.... Not one for looking at my bank balance too often unfortunately.

HSBC have admitted gross mistakes on their part, but they're asking me to suggest what I think is reasonable compensation???

brownie2

What about the difference between the new loan and old loan, which then you can out back into the new loan - providing they dont charge you for overpaying of course! They can only say no.