Should I move on?

izboo

Hi,

Back in April it was obvious that interest rates were going to go up so I decided to remortgage as a consolidation process. After checking available rates I did an online application with HSBC (partly because they were offering fee free for April). I got an AIP online and keyfacts document (but with no individual references) and was called by an operative the next day. I spent 40 minutes going through the application process on the phone with him after which he said that they could offer me a deal (subject to various credit checks etc) and would send out the paperwork for me to sign. He also told me that the fee free deal had been extended a week but that I should complete and return the paperwork asap and that he would phone me in exactly a week to check that everything was progressing.

That was over two weeks ago and I have received no mail and no phone calls since and checking my credit file there have been no searches. HSBC have now withdrawn their fee free deal and hiked their rates which no longer makes them competitve in my eyes. So now I am wondering how long I should give them to contact me before moving on to someone else - my suspicion is that when the rates went up they simply ditched the application as being incomplete and obsolete but I don't know whether the AIP and phone conversation would count as an agreement or not. Unfortunately I didn't get the caller's name as the connection was really bad at the start of the conversation and as I said (unlike some providers) there are no reference codes to quote if I contact them. Apart from anything else I am now annoyed at them for taking so long and so denying me the chance to opt for a different provider before the rates increased.

Any views would be gratefully received.

Izboo

izboo

Just thought I'd add to this. After not hearing anything from HSBC I concluded that they had given up on me. Having already missed out on one set of fixed rate deals and with the prospect of further interest hikes I moved on to another lender (Chelsea). They have been good at keeping me informed of progress at each stage and everything is set to complete next week. Today I got a large package from HSBC - a remortgage application form and related information - seven weeks (7 weeks!!!) after they last contacted me saying they would be in touch the next week. To say that I am not impressed is putting it mildly. On the bright side though the application is for the April rate and valid for another three months so just in case of any last minute snafoos I will wait until the current process is 100% complete before telling them what I think of their customer support.

Ta

Izboo