Cheltenham & Gloucester inefficiency

Lucy_Lastic

My C&G fixed rate came to an end in June 05. I contacted my branch of Lloyds TSB who had arranged the mortgage and I agreed to take up another fixed rate offer. The fee for this was £199. I paid up and waited for the forms to arrive.

They arrived quoting the wrong address for the property to be mortgaged. I phoned C&G direct and told them that I was not impressed at paying £199 for them to make such a basic mistake, which, as my mortgage would now revert to the standard rate, would cost me money. They put me on hold for a while then said that they would refund £25 of the fee and make up for any interest incurred.

In July new forms arrrived, they were correct, I signed & returned them enclosing a letter detailing the conversation I had had re the refund.

This week I got a (standard) letter telling me that my mortgage payments would be slightly less due to a cut in the standard rate. No word on my fixed rate, no reply to my letter.

I now intend to ring them again and complain at the standard of service I have received. What do you think I should ask for by way of compensation? The whole of the fee refunded plus the interest incurred?

Any thoughts?

MarkyMarkD

Lucy

I'm not sure I understand why you didn't do anything between signing the forms in July, and getting the letter in September. Shouldn't your new payments have taken effect in August?

I agree that they haven't dealt with things properly, but it looks like you've let them string things along as well without chasing them up.

Lucy_Lastic

I live in Brazil and my mail is redirected from UK, causing delays. Also I have been away on 2 weeks holiday. Otherwise I would have been on to this sooner!

dunstonh

I live in Brazil and my mail is redirected from UK, causing delays. Also I have been away on 2 weeks holiday. Otherwise I would have been on to this sooner!

Well, if the answer is "we didnt get the forms back from you", then you havent got much chance of any "compensation". If they got the forms back and didnt action them perhaps the difference in payments for the 2 months would be appropriate.

Maybe you should be asking them why they didnt change it and see what the response is first. If i was going to put a bet on it, i would say lost in post.

Ian_W

No, Lucy, I'd sue them for every penny they're worth :mad: !! And they're worth billions of pennies as part of LTSB . Erm, hang on though, my monies with LTSB, so please only sue them for every penny except mine!! :eek:

Seriously though, aren't the delays likely to be a 2 way process? Your returned forms crossing, mid-Atlantic, with the interest rate notice? I'm not sure at this stage, at least not until you've phoned them, that they have done any more wrong, than their original mistake. Sure, they should refund ALL the interest due to their error and make some payment by way of apology but unless they have made a further mistake, I would just try to get it sorted ASAP.

BTW, Boy from Ipanema still walking? :cool:

Lucy_Lastic

I think that the lost in the post excuse will come into play. However, my mail goes direct to London by Diplomatic Bag, so I´m not wearing that one! No doubt they will still try it though.
I am going for the full refund of interest incurred as well as the 199 fee. Have decided to let my mortgage arranger at Lloyds TSB sort it out for me. That´s what they are paid for. Have sent my demands by fax.

Ian W - I´m still looking for the Boy from Ipanema.

Ian_W

Erm, Lucy you obviously haven't been home for a while, "lost in the post" refers to when it arrives in UK for delivery to C&G. Royal Mail no longer rate as "gold standard" for deliveries, in fact it would have less chance of getting lost in the amazon rain forest than with the Post Office. :wall:

BTW, thought the diplomatic bag was for "eyes only" important stuff. Now we know why TB cocked-up on Sadam's WMD's - Jordan couldn't get the message through to him in time to avert war - cos DB was full of discounted mortgage renewal forms!! :rotfl:

nsjb

Porque voce mora no Brasil Lucy ?

dunstonh

The success rate of mail delivery within the UK is about 94%. Think how many letters C&G get daily. I'm only a small financial services company but get around 30-50 envelopes a day. Indeed, this mornings post included an envelope addressed to someone about 3 roads away. Same number but different road name and post code. I get that about once a week.

I have had my neighbours pop post into me that was posted through their doors. I wonder how many dont bother and just bin it.

Lucy_Lastic

So, basically the post these days is worse than ever. Guess maybe C&G will have a valid excuse then. Damn!

nsjb...... Porque nao?

Lucy_Lastic

Just spoken to Lloyds TSB (who originally arranged the mortgage). It has been agreed that C&G will send out more paperwork for me to sign (yes, it was lost in the post they say) and that they will refund only 25 of the 199 fee, but all the added interest incurred, so not a bad result really.