Not what they quoted where do I stand.

Bluerover

Okay anyone any idea where I stand

I have a mortgage with C&G, 12.7 years to run, and £27,000 (rounded off)
I was on the standard variable rate.

Decided to fix the rate (considering part time to study so decided to fix for 2 years)
C&G offered 5.99% 2 year fixed (fee £495) so I had a quote and then asked how much if I reduced the term to 10 years;

The lady quoted £296 PM. I accepted. 10 years, 2 years fixed, £495 fee allowed to pay double monthly payments, 10% year.


Got the letter in the post this morning saying onthly payment would be
£340.17 :eek: I got straight on the phone and they have logged an incident, I will be contacted in 2-3 working days.

So my question is what will happen the lady said they record every phone call so that should be fine as she did quote £296 and never mentioned £340 to me if they had I would not have accepted the offer. Where do I stand

PBA

Possible theory, has their SVR changed in the last month or so? This might be the automatic letter sent when the rate changes, nothing to do with the new deal you negotiated.

If not, more info needed to work out exactly what they mean. Is this a keyfacts document that has that quote or just a letter? Does the letter make any reference to the original figure you were quoted? Do you pay any other insurances along with your mortgage payment?

Dan_Collins_2

Well they have a £1 1% rule on KFIs and Offers, not sure about verbal.

She may have made a mistake, I know it does not help you but she is human.
If you had something in writing then you this would be a different matter. Either she calculated the wrong figure or the letter is wrong. C&G are not a bad lender so I would say they would come back to you when they say they will and tell you what happened.

Bluerover

No I know they are not a bad lender been with them since they took over TSB mortgages. No trouble.

The lady on the phone I spoke to today to "complain" said everything I said was what was written on the screen their end apart from the lady I spoke to who quoted me had not written anything in the "amount quoted box"

I will wait and see what happens. Thanks all I realise its an error not an "on purpose"

I do know the rate changed the day after my quote to 6.24% fixed 2 year.