NatWest Redressing Poor Advice on Term

[Deleted User]

So if you were later given the choice to reduce the term but chose not to would you have taken the lower term in 2012 if offered?
If you would have done then maybe you could argue you have some other calculations to work out.
If you would have taken the longer term than I think it sounds like they are offering a fair outcome here and you requesting any more just comes across as bad faith or chancing your luck.

davidmcn

manselnott wrote: »

Thanks for the advice. All sounds logical and will probably take the offer.

Could you please use the "Quote" button so we don't have to guess what you're replying to.

manselnott

haras_nosirrah wrote: »

But if your mortgage had been on the shorter term then would the subsequent mortgages have been more difficult to afford when you were no longer in as lucrative a job

My mortgage has come down a lot in that time from 90k to about 60k. But If I had a shorter term it would have come down even quicker. With the economy I have been able to take advantage of lower rates, so I don't think subsequently I would have struggled with a shorter term.

Hindsight is a wonderful thing. I'm always a believer of not quickly accepting the first offer and my rationale was slim but wondered if it had any merit. It seems it doesn't but if there was a chance that the bank should pay more I would have taken it, after all they have made enough money from us over the years, despite the crisis.

getmore4less

without the numbers it is difficult to judge how big a difference we are talking about over the first 2 years.

that first deal

How much did you borrow?
what was the rate
what was the term

what would the term have been to finish at the wife SRA?

getmore4less

manselnott wrote: »

All subsequent advice was informed face to face. Illustrations of a shorter term were given but we couldn’t afford to change due to job change and economic circumstances.

That sets the 2 year limit unless you can show that the initial shorter term would have put you in a position that the shorter term would have been affordable.

needs the numbers.