applied for a fixed term mortgage product Illustration is a completely different product!

jonnie730

Hi all,
Having an issue with a mortgage product.
We applied for a fixed term BTL mortgage in September 2022 the rate was 3.6% with a fee approximately £2000 or a bit more, however when we have come to read the product illustration it is a variable rate product, none of the figures are near the figures on the original application. And yes we took too long over not reading the documents sent to us. We have never taken out a variable mortgage preferring to fix our deal so it is obvious the product sent is not the product applied for and there is no explanation as to why this is the case either in writing or in a recent phone conversation.
This is with Paragon bank. I have since learned of this situation occurring with a friends application. Has anyone else experienced this with this Bank?
Also I am obviously keen to get a copy of Paragon's offers around the end of September 2022, usually in PDF form on their website. Does anyone have a fixed term BTL mortgage that they took out in September 2022 that they would be happy to share the illustration of, obviously redacted where needed? Or can point out where this might be accessed or found?
Ok thanks for reading and if anyone can help it would be much appreciated. 
regards
Jon

MorningcoffeeIV

It doesn't matter what anyone else may or may not have done.

Contact Paragon for clarification.

silvercar

Even if you did find an image of the paragon website saying this fixed deal was available, you need to prove that you applied for it. In your shoes I would first query with paragon. If they are adamant that you applied for the variable I would then search out your completion statement from your solicitor. That may or may not specify the deal, but if it doesn’t it could specify the mortgage arrangement fee, which would give a clue which deal you applied for.
if you still have no joy you could put in a complaint to paragon and at the same time do a data subject access request to retrieve all the information they hold, that may indicate which mortgage you applied for.

ACG

Did you apply through a broker or direct? 
Whichever route you applied through is who you need to contact. 

Forget everything else you are doing, it is completely irrelevant and just a waste of your time. 

As this is a BTL, you are going to be treated like an adult. There wont be aby of this make a complaint, plead ignorance and you get a result - it could go like that, but it may not.