Incorrect advice....

[eder]

Hey digi fam...quick question for you'al.

I am on a tracker product and when I agreed to that earlier in the year I was told I could change to a fixed product "at any time, without any fees", other than if I choose to go onto a product that has a fee. I called them up at the end of April to get a 3.95% fixed for 3y product and was told that I had to pay a early repayment charge to change product - I said sorry, and genuinely thought I had gotten it wrong, well f*ck me sideways, I find out today that I was actually right and was given the wrong advice! I obviously missed out the cheaper products due to the latest interest rise.

Question...do you think the bank has to honour the rates I had available to me at the time? I hate go all "karen" on them, but feel well f*cked over by the incorrect advice given!

 

[albob]

No harm in complaining. I take you have nothing in writing ? ; but most companies record things these days.

Not sure if they would honour the 3.95% though (maybe some compensation for the incorrect info...?)

 

[sneaker]

Sounds like a job for the financial Ombudsman to sort out for you, if you have no joy with the bank.

 

[willin]

Been said above, my daughter works for a bank, handles complaints, unfortunately they don't have to honour any offers (it will be in the t&c's) but they do have to be fair and reasonable, go through the complaints procedure with the bank (ombudsman will not look at it if you don't do this first) then with the ombudsman, get any evidence together for them.

Her bank often offer some sort of compensation before it get's to the ombudsman, good luck!

 

[silverdale]

Hey digi fam...quick question for you'al.

I am on a tracker product and when I agreed to that earlier in the year I was told I could change to a fixed product "at any time, without any fees", other than if I choose to go onto a product that has a fee. I called them up at the end of April to get a 3.95% fixed for 3y product and was told that I had to pay a early repayment charge to change product - I said sorry, and genuinely thought I had gotten it wrong, well f*ck me sideways, I find out today that I was actually right and was given the wrong advice! I obviously missed out the cheaper products due to the latest interest rise.

Question...do you think the bank has to honour the rates I had available to me at the time? I hate go all "karen" on them, but feel well f*cked over by the incorrect advice given!

Are you sure that when you first signed up to a a tracker product there wasn't an initial period of say 12 months 2 years before you could move ?.
Check the small print make sure that what they verbally told you isn't different from what the documents actually say.
They might have told you "Yes you can change your product at any time" but the failed to inform you there's an early repayment charge if you do. No doubt hidden in the depths of all the pages of technical dross in print the size of a nats nob it will say "If you change product an early repayment fee will set at ......... Amount".

 

[eder]

Thanks all.

Yes, it was confirmed by another adviser that on the tracker product I am on there is no fee to transfer to a fixed product. He has raised a complaint for me and let's see how far that takes us. I will post the outcome.

 

[eder]

An update for you all...quicker than I thought!!

"My Market Leader has listened to the call and confirm you were given incorrect information . The good news is I can proceed with the lower interest rate on both parts of your mortgage. However, I am fully booked this week unless I have a cancelation. Would you like to me phone you if I do have a cancelation or book you a slot next week instead? Thanks Tony"

 

[eder]

Update 2....

And they backdated the mortgage product to start on the day that I originally called too! Talk about prompt resolution! I am impressed. Expected at least a couple of angry email from my side first

 

[Rumpelstiltskin.]

Update 2....

And they backdated the mortgage product to start on the day that I originally called too! Talk about prompt resolution! I am impressed. Expected at least a couple of angry email from my side first

Who was the provider?

 

[eder]

Who was the provider?

Barclays