Natwest tricked me into staying with them

Sibz

Sounds like pretty good customer service by Natwest, many banks would not have entertained your complaint.

Also if the Halifax offer you referred to originally would have been less per months and reduced your term, surely you could have tied both parts into 1 big part with them and the better rate combined with the length of term would have rendered the ERC minimal.

This is why you seek financial advice before going to lenders, you don't just (normally) get good advice and rates but you learn things about potential pitfalls for future.

MSul

Question: Is the 169k now fixed at 5 years at a fixed rate? or do you have 2 loans at different rates?

fokwok

Just an update, after a full review Natwest called me today. Seems the complaint wasn't fully resolved as i had thought.
they asked whether i would have taken out the remortgage had i known about the consequences of being unable to move mortgages without a redempption fee bearing in mind i would need to remortgage 9 months later. I told them i would not have done so.
they informed me that they are obliged to dicuss this situation with me - particularly as i had let them know the facts of my case and my intention to remortgage in 9 months times. they also said that upon listening to the conversation there is no mention of the repurcussions by the agent who sold me the package - he should have discussed this.

theya re refunding me the redemption charge (£650) with interest and £150 as a gesture of goodwill as they were aware i could have taken this to the ombudsman but didn't as well as the general invonvenience it caused me.

be careful what you are sold, don't just assume you won't get anywhere and challenge a decision or situation which you feel is unjust.

I ended up remortgaging with HSBC, reduced the overall mortgage term by 5 years and only paying £15 a month more on repayments.