Missold bank account but....

LiscottyB

Hi
My husband and I went for a mortgage with Cooperative bank. We were told that if we take out their privilege package account we would get preferential mortgage rates, but it turned out that we didn't have enough equity in our account so in the end we weren't eligible for the mortgage anyway, despite being told that this would seal the deal.
So we were paying approx £13 for a package bank account however we have used some of the insurances, is it possible that we can still claim back some fees?

Thank you in advance

Nasqueron

LiscottyB wrote: »

Hi
My husband and I went for a mortgage with Cooperative bank. We were told that if we take out their privilege package account we would get preferential mortgage rates, but it turned out that we didn't have enough equity in our account so in the end we weren't eligible for the mortgage anyway, despite being told that this would seal the deal.
So we were paying approx £13 for a package bank account however we have used some of the insurances, is it possible that we can still claim back some fees?

Thank you in advance

You can complain about the package and might get a payout but the reason for complaint itself is weak, the product would have given you better mortgage rates. It'll come down to what records they have and what their interpretation of it is, if they advertised a feature and didn't check if you could use it then it would be unsuitable, if it was possible to get a mortgage with them but later your circumstances changed and you couldn't, then that would not be a miss-sale

dunstonh

Pretty weak complaint reason. May work but seeing as you knew that it was optional and taken out for a reason, you could have reverted once you didnt get the mortgage. So, its hard to see why you think you have a reason for complaint