Very poor mortgage service / credit check question
Discussion
I'm in the middle of trying to get a revised offer from a well known high st bank. Catalogue of events:
May: applied for their 5yr 4.69% fix in my name. Rather than do what most B/S do and simply credit check me, give me an 'offer in principle', then give me a formal offer once a valuation survey had been done, they wanted an actual address of a property. The last house I'd looked at (address A) had been sold so was off the market, but I gave that address, simply to give them something to fill in on their computer
July: Found Address B and went to have a valuation survey
August: chased and chased and chased, and managed to eventually get a mortgage offer against Address A with the valuation survey from Address B.... My solictor immediately rejected this.
Sep: Spoke to branch manager after informing him of ineptitude of mortgage broker. Managed to get another revised offer.
Solicitor informed me that deeds could not be in two names (mine & the g/f), but mortgage in only one (mine), so I would need to add g/f to the mortgage application....
Oct: As the initial product (5yr fix @ 4.69%) was no longer on the market, I had to reapply (this time as a joint application) on their 3yr 4.19% fix. This was accepted in the branch. Did the credit check , etc. All OK.
Now.... their mortgage centre effectively had a valuation survey for Address B (complete with all Address B details on it), an application in a single name (mine), and another later joint application.
What happened next is that the mortgage centre cancelled the 2nd application (w/o communicating anything to me), then added the missus to the first application, despite the mortgage advisor and branch manager telling me this was not possible, then issued a revised offer..... with Address A on it
)
Solicitor rejected this as well. Notwithstanding the fact that the initial 5yr fix was only valid if funds were drawn down by end of november (i.e. complete in <2 weeks...).
Address B has now fallen through due to the vendor offering only a £1000 discount, despite 3 specialist surveys (300 yr old house) suggesting £30k of remedial repairs needed.
2 questions:
1) How do I complain formally about the 2 muppets at this well known bank. I've got fed up of dealing with that institution now, so would prefer to go straight to the FSA/ombudsman/other. what course of action do I have? I've incurred the cost of 2 letters from my solicitor informing me the mortgage offer is not acceptable due to their incompetance (i.e. match up offer B with valuation survey B : not rocket science)
2) Given that I will have effectively been credit scored twice, but have NOT DRAWN DOWN ANY MONEY, will this effect my credit record, and/or my ability to go to another lender/broker to secure another offer in principle?
Many thanks. Apologies for the long post!
May: applied for their 5yr 4.69% fix in my name. Rather than do what most B/S do and simply credit check me, give me an 'offer in principle', then give me a formal offer once a valuation survey had been done, they wanted an actual address of a property. The last house I'd looked at (address A) had been sold so was off the market, but I gave that address, simply to give them something to fill in on their computer
July: Found Address B and went to have a valuation survey
August: chased and chased and chased, and managed to eventually get a mortgage offer against Address A with the valuation survey from Address B.... My solictor immediately rejected this.
Sep: Spoke to branch manager after informing him of ineptitude of mortgage broker. Managed to get another revised offer.
Solicitor informed me that deeds could not be in two names (mine & the g/f), but mortgage in only one (mine), so I would need to add g/f to the mortgage application....
Oct: As the initial product (5yr fix @ 4.69%) was no longer on the market, I had to reapply (this time as a joint application) on their 3yr 4.19% fix. This was accepted in the branch. Did the credit check , etc. All OK.
Now.... their mortgage centre effectively had a valuation survey for Address B (complete with all Address B details on it), an application in a single name (mine), and another later joint application.
What happened next is that the mortgage centre cancelled the 2nd application (w/o communicating anything to me), then added the missus to the first application, despite the mortgage advisor and branch manager telling me this was not possible, then issued a revised offer..... with Address A on it
)Solicitor rejected this as well. Notwithstanding the fact that the initial 5yr fix was only valid if funds were drawn down by end of november (i.e. complete in <2 weeks...).
Address B has now fallen through due to the vendor offering only a £1000 discount, despite 3 specialist surveys (300 yr old house) suggesting £30k of remedial repairs needed.
2 questions:
1) How do I complain formally about the 2 muppets at this well known bank. I've got fed up of dealing with that institution now, so would prefer to go straight to the FSA/ombudsman/other. what course of action do I have? I've incurred the cost of 2 letters from my solicitor informing me the mortgage offer is not acceptable due to their incompetance (i.e. match up offer B with valuation survey B : not rocket science)
2) Given that I will have effectively been credit scored twice, but have NOT DRAWN DOWN ANY MONEY, will this effect my credit record, and/or my ability to go to another lender/broker to secure another offer in principle?
Many thanks. Apologies for the long post!
If memory serves, your first formal complaint must go to the bank. Ask them how to make a formal complaint. They are obliged to explain to you how you make the initial complaint and how quickly they are required to respond to it and what you can then do if you don't think their response is adequate ... i.e. escalate the matter to the ombudsman. This is all basic FSA regulatory stuff, and if they screw up the formalities of dealing with a complaint, they will receive an almighty b
king.
king.I don't know the answer to the questions, but if address B has fallen through as the price doewsn't reflect the remedial work required (presume picked up by surveyor's report), then it's just as well that you didn't buy the house.
Nothing you can do about credit checks. You agree to them every time you make an application, whether it completes or not is not relevant. I think they "drop off" after 6 months?
Nothing you can do about credit checks. You agree to them every time you make an application, whether it completes or not is not relevant. I think they "drop off" after 6 months?
SJobson said:
Since your purchase fell through for entirely different reasons, where is your loss?
There's no loss financially other than the costs incurred to me via my solictor for informing me of the banks' mistakes. The crap service is what I want to complain about. Why is the UK almost alone in the developed world in providing crap levels of service in just about all walks of life? If someone can be made to up their game for the next punter, then it may help the next person out?
RichBurley said:
I don't know the answer to the questions, but if address B has fallen through as the price doewsn't reflect the remedial work required (presume picked up by surveyor's report), then it's just as well that you didn't buy the house.
Nothing you can do about credit checks. You agree to them every time you make an application, whether it completes or not is not relevant. I think they "drop off" after 6 months?
Agreed, however, the house in question isn't the point I was seeking advice on!Nothing you can do about credit checks. You agree to them every time you make an application, whether it completes or not is not relevant. I think they "drop off" after 6 months?
Do you believe the number of searches (albeit with a positive outcome) will affect future searches?
fergus said:
Do you believe the number of searches (albeit with a positive outcome) will affect future searches?
If it's just 2 or 3 searches, it shouldn't be too bad for your credit history. If its really worries you, get a copy of your credit expert report. In terms of making a complaint the Ombudsman will not even consider your complaint until you have exhausted the complainst procedure at the lender. (Try to complain before you've done this and they will politely tell you to f
k off.)You will most likely achieve the grand sum of not alot by complaining, although I see your point.
fergus said:
scotal said:
You will most likely achieve the grand sum of not alot by complaining, although I see your point.
Agreed, although if nothing is said, then their service is unlikely to improve for others, as they will have had no feedback of any sort....scotal said:
fergus said:
scotal said:
You will most likely achieve the grand sum of not alot by complaining, although I see your point.
Agreed, although if nothing is said, then their service is unlikely to improve for others, as they will have had no feedback of any sort....complaining does fk all, and changes nothing.
I recently went through something not as bad as your experiences but a pain in the ass all the same with my lender getting details wrong and credit scoring non existing addresses etc.
After making an official complaint, I got a fob off letter stating some facts and saying that they were sorry.
And that is it.
The employees responsible will probably get it mentioned to them by their manager at some point if you are lucky.
k all, and changes nothing. I recently went through something not as bad as your experiences but a pain in the ass all the same with my lender getting details wrong and credit scoring non existing addresses etc.
After making an official complaint, I got a fob off letter stating some facts and saying that they were sorry.
And that is it.
The employees responsible will probably get it mentioned to them by their manager at some point if you are lucky.
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