Signed documents lost by provider

Thegoodlife_2

In February we contacted our mortgage provider as our fixed rate interest only mortgage term was due to end in April. After a long call we decided to go ahead with a new fixed rate on a repayment basis. No fees to move a couple of months early.

It was close to when our March direct debit was due to be taken and so we had two days to return our signed consent. The docs were emailed to us, we signed and took this document into a branch the next day, where this was faxed to the mortgage number and I was given a fax confirmation print out.

We were told if the timing was too close for the March DD then April would be changed for sure. Each time I attempted to call the wait time was 20 mins plus, so each time I hung up and tried again on several occasions. Long story short the April DD was also incorrect and so on the day the DD went out in April (17th) I held on for a very lengthy call.

The documents were misplaced and not processed and I was told that due to the new rules that took affect Monday 14th this did not allow them to alter the mortgage in any way without us re-applying, even though they admitted the error was theirs.

Whilst we know we could afford the new monthly DD we did not qualify under their new affordability process in the same way when we reapplied and were declined, to remain on an interest only mortgage on the standard variable rate.

I asked that a complaint be raised on the day that I called. They initially offered a low amount that was very quickly raised to £450. Does that sound suitable? Also they have asked what do we want to resolve the query, any suggestions on what we should consider? Phone costs, inconvenience?

Thanks

Thrugelmir

Were you correctly advised that you could leave your existing fixed term without penalty early?

Thegoodlife_2

Yes there was no penalty to change product 2 months early.