My bank has messed up my mortgage and offered me compensation.

Geogelee

My bank has messed up my mortgage and offered me compensation.
How do I know how much to ask them for? they said " how about £250"

They approved a mortgage and just 2 days prior to completion said I couldn't use the gift of equity as a deposit ( previously agreed) and I would need to come up with 16000

What do you think ?

Nasqueron

You had £0 and now you have £250, what else do you want? You're not going to get thousands of pounds if that's what you are asking. Speak to your solicitor if you feel you have incurred costs as a result of this change

Geogelee

Thanks for your quick response and observation of the obvious. If had been asking if I would "receive thousands" I would have asked that.
My question was to see If the forum felt that the offer was in proportion.

Regards

-taff

Did they change their minds again and let you use it or not?
If not, yes, it's an fair offer.
If yes, did you incur any losses as a result of this?

[Deleted User]

Geogelee wrote: »

My question was to see If the forum felt that the offer was in proportion.

£250 seems reasonable to me. What losses (if any) did you actually experience?

Nasqueron

Geogelee wrote: »

Thanks for your quick response and observation of the obvious. If had been asking if I would "receive thousands" I would have asked that.
My question was to see If the forum felt that the offer was in proportion.

Regards

£250 is apology money for something which has not caused you any financial issue.

As I stated, if you feel you have incurred losses above that, speak to your solicitor doing the sale and see what they recommend. Asking on a forum is pointless as each case is unique, I could say ask for £500 or £1000 or £10,000 - the bank isn't going to pay because someone anonymous on a forum said so