RBS Mortgage Complaint

BueRock

Hi,

I have have an interest only mortgage with RBS.

I have been trying since March to switch to repayment.

RBS have via umteen calls have taken till today to finally fully get the ball rolling.

However 4 weeks ago they calculated my property value (Using the HPI) at £263,000 and today they valued it at £193,000 apparently using new tool. The realistic valuation is much nearer the first and this makes a difference between it being a 90% rate and a 70% rate.

They then informed me that if I wanted to get a valuation done I would now have to pay for this.

The first 2 times I put in a request to speak to someone about my mortgage I was told someone would call me back within 14 days. After chasing this up this took us from March to May. In May I then had to book an appointment for an 'advisor' to call me in early July.

When the Advisor called she went through first affordability which I passed and then the HPI which got me the 70% rates.

She then said that due to having adverse credit history (last debt payment will be made 25th this month then clear) I may well fail the credit score, which meant that she needed to apply to see if they would proceed anyway (as it is in their interest t have the mortgage paid off). She said a decision on this should within 2 weeks and she would call then to update me. Called back when she said and advised that is could take another week.

Finally had a guy call me last Tuesday, he had no noted from the previous call and he also sid that none of his calculators were working so he couldn't proceed. I suggested he call me back today when they would be working.

He called back today and proceeded to tell me that the calculation now shows I would be entitled to a 90% rate unless I pay for the valuation.

The rates have also gone up for RBS in the last month so this is costing me a lot of money.

I spent 2 hours on the phone today (mostly holding) including a half hour stint with the complaints team who acknoledged bad service and credited my account with £100.

All I really want is to get my Mortgage sorted!

I am tied a little to RBS because of the previously mentioned credit history (linked to utilities not mortgage).

RBS's sevice has been disgracefull!!!

I am now waiting for the Mortgage teams manager to call me back.

Anyone have any advise on how I should proceed. Thinking of complaining to the ombudsman regarding my teatment.

Thrugelmir

There's nothing stopping you making additional payments into your mortgage account now to reduce the balance owed and therefore the interest charged. Also by default will increase your LTV.

The issue may not be the switch to repayment but whether your lender will offer you in terms of a new product.

You may receive a small exgratia payment by making a complaint for the time delays. However the FOS won't involve itself in commercial decisions.

kingstreet

You have to make a formal complaint to the lender, give it eight weeks to investigate and respond, then if you are unhappy with the response you have six months to escalate to FOS.

Put your complaint in writing and tell the lender what you want it to do to put the matter right.

BueRock

I am keen to get it resolved speadily.

I will make the overpayement this month if it is isn't resolved.

But the time facor is that it is costing me money in rates going up.

I am also going to have to pay for a valuation which will prove I should get a 70%LTV rate. I am going to seek compensation for this.

It has been like dealing with a band of monkeys.

If I were able to move I would be.

RBS are truly shocking!!!