Product Switch - Lender charged us SVR in error

dunstonh

They offered us £150 plus interest and charges, we declined this offer as we felt it fell way short of our expectations of our lender. They have now offered us £250 plus interest and charges which we accept.
I hope this is a good example to the many out there that said i was wasting my time or not due any compensation. 

I just read the thread and can't see any noteable comments saying you would not get any compensation.   They said your demands were totally unrealistic. (and they were). 

On things like this, anything upto £250  for goodwill on top of direct costs incurred is the usual outcome.   To get above that (typically up to £500) then you need more severe issues.   I had a client that died and his wife put it down to the stress from the provider (he left his job, retired and moved away based on the figures of his pension which turned out to be wrong) and the FOS ruled £400 should be paid.     

TheJP

dunstonh said:

They offered us £150 plus interest and charges, we declined this offer as we felt it fell way short of our expectations of our lender. They have now offered us £250 plus interest and charges which we accept.
I hope this is a good example to the many out there that said i was wasting my time or not due any compensation. 

I just read the thread and can't see any noteable comments saying you would not get any compensation.   They said your demands were totally unrealistic. (and they were). 

On things like this, anything upto £250  for goodwill on top of direct costs incurred is the usual outcome.   To get above that (typically up to £500) then you need more severe issues.   I had a client that died and his wife put it down to the stress from the provider (he left his job, retired and moved away based on the figures of his pension which turned out to be wrong) and the FOS ruled £400 should be paid.     

I'm talking from a compensation point of view, many posters said i was only due costs and nothing more.

Your example is pretty unrelated, what was the cause of death? I'm pretty sure it would be hard to relate the death to wrong figures. My case is pretty clear by the admission of the lender and the fact they have upped the compensation after i rejected it. They made many mistakes including the wrongful DD of funds, taking too long to resolve the issue and being non communicative during the complaints procedure.  

TheJP

Hello, another update. I had a call from VM customer complaints to ask if i would accept the offer. I had a in depth discussion about our experience, i wasn't happy that they could only offer £250 but didn't want to draw this out, i also explained that i would likely change to a different mortgage provider in 12 months time. They put me on hold for 10 minutes,  New offer of £1000 confirmed. That covers the holiday costs and incurred costs.

ACG

I would snap their hand off for a grand. 
I am amazed they have gone that high. 

TheJP

ACG said:

I would snap their hand off for a grand. 
I am amazed they have gone that high. 

We have! I was surprised as well but clearly they wanted this resolved after i had rejected 2 previous offers.