Can I claim for unacceptable delay in communication resulting in financial loss

bowlhead99

Welshyyyyy wrote: »

there has been a gap of 15 days which has seen the unit price fall (which I thought might happen, hence the request for the encashment on the 13th)

If you had really had such psychic abilities after tracking the price for some time, to know whether the market would be going up or down and that 13th was going to be a relative high point, you should have given them plenty of notice that you'd want to cash in on the 13th.

When your mother first bought the bond it didn't come with any promise of instant access or ability to sell in real time. Markets can move by a few percent in a week - or even an hour, for some markets. Going into owning the product she knew that she would need to write or call and obtain paperwork and send it in to buy or sell the product.

So, it is what it is, and there's no compensation if that process takes a little while just because you left them an electronic note on the bond holder's behalf that they didn't read and respond to instantly.

I know you mentioned:

I know that unit prices fall as well as rise before anyone says "I'm sure you wouldn't complain if it had gone up"

So you don't want to be taken to task over this... But this is a pretty obvious point.

You would like to get the highest possible price for the sale -wouldn't we all - but the highest possible unit price is only visible with hindsight and the product can't be traded on a known price, only traded at an unknown future price after completion of paperwork.

You know you would happily take the £700 if it was a positive number, and - given you know you have no ability to trade at a declared price - you have to accept that you may need to take the £700 negative number instead.

p00hsticks

Welshyyyyy wrote: »

Could you please confirm the process for this (e.g. is a formal letter requesting the funds required?
Currently (as of 12/2/19) the Bond is worth £xxxx, will I get the full amount (based on the unit price at the time) or will there be a MVR applied as stated in your literature"

If you had been intending to sell for some time, couldn't you have found out the answers to these questions (and obtained any necessary forms for completion) in advance, so you would be fully prepared to cash in when you were convinced the time was right ?