HSBC mortgage rate error letter

HMWM

Did anyone else receive a letter from HSBC prior to Christmas stating that they had been given the wrong mortgage rate previously and that they were offering a redress amount of the difference to make up for it?
I found it very suspicious, the fact that it came 2 weeks before Christmas with a 'confirm your bank details and have the money within 5 days' and the wording of it being a redress 'offer' I emailed and asked for details and they confirmed the rate given vs the rate we should have had and that its the difference + the FOS 8% but I'm still a bit wary. Has anyone else been in this position before? Are they trying to fob me off with a couple hundred quid because they in actual fact done something wrong that could cost them a lot more?
Thanks so much for reading.

molerat

Everything would have been done in accordance with FOS guidelines.  They would be in deep trouble if they tried to pull a fast one.

lincroft1710

I presume you believe this may not be a genuine letter from HSBC rather than HSBC not conforming to FOS requirements

HMWM

lincroft1710 said:

I presume you believe this may not be a genuine letter from HSBC rather than HSBC not conforming to FOS requirements

I've confirmed that it is genuine with HSBC, I'm just hesitant to agree to anything when there is little to no information that can be found online with regards to this sort of thing.
Why do they say it is an offer rather than we apologise and this is what you are owed? Why is it an offer? What happens if the offer is refused? 

molerat

Under the rules they are not allowed to simply tell you this is what you are getting and they must make you an offer of redress which will have been calculated under FCA guidelines.  You are entitled to reject that offer and ask for more giving your reasons.  The offer is not likely to reduce if you contest it but they cannot pay it until you agree which will close the matter.