Intelligent Finance want to close my current account that's offsetting my mortgage

[Deleted User]

Ley1974 said:

mnhmnh said:

Hi,
I've got a letter saying that IF are closing my current account even though offsetting the balance in it was sold as part of my mortgage features. Can they force close it, and what can I do about the financial impact of that offsetting over the next 10 years, should they compensate me? (besides the £500 for inconvenience).
Thanks

Hello, just wondering if you got anywhere with IF in regards to this. I’m in the same position- made all the better by not actually being informed the account was closing (but that’s a different issue). 

Your position simply isn't very strong here. The current account is legally a separate product - you didn't take out a current account mortgage (CAM) -  plus they're allowing you to leave IF without charge or retaining offsetting via an IF savings product if you opt to stay.  

Do you have a substantial loss by moving everything out or just the current account to say sister brand Halifax?