I have signed a mortgage in principal agreement with my mortgage advisor to get a mortgage which at the time was the best on the market. However, as it took about a month for the actual mortgage offer to arrive, the interest rate on the offer has increased, and would work out to cost us about £700 over the lifetime of the agreement. This is despite the mortgage advisor guarantee us upon signing the mortgage in principal agreement that the rate was then secured. What can I do about this and who can I complain to?
2007-03-15 01:07:36 · 5 answers · asked by Lee 2 in Business & Finance ➔ Investing
What the advisor means is that that PRODUCT rate is secure, so if for example your mortgage is, say, 0.49 above base, then the amount you pay will change with the interest rate changes.
If however the advisor has guaranteed you a rate but has changed the product, or the product has been withdrawn subsequent to his promise, then I would try to get a result from him. Ifyou cannot, then approach the Financial Ombudsman.
2007-03-15 23:14:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Have a word with citizens advice, not sure if you have a case to cancel,sounds like you only have a verbal reassurance rather than a written contract, you could try complaining to the financial ombudsman
2007-03-15 01:18:02 · answer #2 · answered by okocha 1 · 0⤊ 0⤋
hi mate, the mortgage co. should honour the agreement. If not tell them to stuff it up where the sun dont shine. Afterall they DELAYED it, didn't they ?
2007-03-15 06:23:11 · answer #3 · answered by bluecow 5 · 0⤊ 0⤋
did you get a facts illustration at the time of the agreement in principle? if so they should Honor the quote...........if all else fails contact the financial services authority.
www.fsa.gov.uk
2007-03-15 01:17:03 · answer #4 · answered by Stalker 2 · 0⤊ 0⤋
really you should try citizens advice beauro. how about FHA. they should honour it.
2007-03-15 12:15:32 · answer #5 · answered by bidia 3 · 0⤊ 0⤋