Remortgage Process & "Fair Treatment of Customers"

Thrugelmir

TheRaz wrote: »

To get a long story short, the issue I have taken up with the lender and the Ombudsman is that at no time during the remortgage process was I made aware that there was a processing time that needed to be factored in to the switch from one fixed product to another

Common sense would say that there has to be. Seems as if your expectations are simply too high.

What line of work are you in? Are you able to respond to all requests immediately. As that's what treating customers equally would involve. Fairly provides the leeway in that requests would be actioned on a first come first served basis.

ACG

If we had to assume you did not know the answer to various questions what may be a quick phone call could end up being a very long call covering everything off to avoid a complaint. Do that on every call and you would then be complaining about not being able to get through to anyone in time meaning you were on the SVR for 2 months.

If you are unsure, you should be asking the question and not assuming.

TheRaz

dunstonh wrote: »

An adviser will advise. A clerk will take instructions and give basic info. It sounds like you spoke with a clerk and not an adviser. However, an adviser won't know what you do not know unless you tell them you do not know or they can ascertain you don't know.



adviser or clerk? Was the person you spoke to the person that would do the assessment or would they put you through to the person that would do it?

There is a regulatory distinction between adviser and clerk. Despite many people thinking that anyone they speak to on the phone or in the branch is an adviser. Most are just clerks even if they have customer services adviser or some other title that the banks love giving their staff to make them sound more important than they are.



Was the person you spoke to the person that would do the assessment or would they put you through to the person that would do it? A clerk taking calls but not doing the work would not know the requirements.

At the time of that call, had you stated you had a deadline? They wouldnt know you had imposed a deadline unless you told them. Remember your mortgage does not expire on the date the deal ends. So, nothing time sensitive in their eyes. And again, it was you that delayed it. Not them.



For future reference, most people start their planning on these things about 3 months before the deal is due to end.

I spoke to agents and advisor. Once put through to the advisor by the agent / clerk the conversation went something like my fixed term product comes to an end at the end of the month when my mortgage will switch to your SVR which I want to avoid.... Cue agent, invitation to say something like you will need to get your application in by xx weeks before the deadline.

TheRaz

£600k would be a result ... a bit more than that.

TheRaz

ACG wrote: »

If we had to assume you did not know the answer to various questions what may be a quick phone call could end up being a very long call covering everything off to avoid a complaint. Do that on every call and you would then be complaining about not being able to get through to anyone in time meaning you were on the SVR for 2 months.

If you are unsure, you should be asking the question and not assuming.

I understand there has to be a balance - I don't understand how I could possible reconcile what to ask when I don't know what I don't know?

ACG

So who draws up the list of things to cover off? As there will always be someone who thinks their question should have been on the list.
If not being on the SVR was important to you then then thats the question to ask.

I realise there is a big difference but I ordered my gfs xmas present on the 23rd December (I know!) I really do not like shopipng at the best of times let alone in the run up to Christmas. I found a few websites offering delivery, only one of them could guarantee it would be there for xmas eve.

It was important that I received it in time, I asked the question.

I do not agree with your argument, they send out the paperwork well in advance and you left it too late. It is not their job to ensure you do not end up on the SVR, it is better for them that you are on it. I can see your point, but in any other industry you would need to take this on the chin and chalk it up to experience.

TheRaz

... the FO found in favour of the lender, on the basis that they had complied with the stated COB. Why am I not surprised? I appreciate all the comments and thoughts from earlier posts which in the main support the FO. However all said and done I still feel that the system assumes that I as a complete layperson in these details should know what questions to ask, which of course is fine if you know what to ask!

End of thread