UK Landlord Forum / Life

Wanna hear a story? Its a good un!

Recently went with Nat West to get two mortgages for two properties. 1st one a few issues which was settled by them sending me a massive and I mean massive box of Throntons toffees!. 2nd one-complete nightmare!

First of all they said they had not received the details even though sent in same envelope as 1st. They then made my mortgage advisor jump through hoops. Then they said they had not received the details! Spoke to my business manager at RBOS and she said "I am looking at them on screen right now"! Nat West denied that they had received them. Fast forward 2 months or so. About to complete. After much negotiation it turned out the vendor was a complete W***** and I decided to pull the deal. My solicitors rang Nat West to cancel the funds transfer only to be told - "oh sorry, the funds would not have been sent anyway as the offer has been lapsed". Turns out that some temp worker had lapsed my mortgage without authorisation or knowledge of any line manager.

Lots of apologies and lies from NAt West. Make complaint and all of a sudden the recorded phone calls between myself and Nat West and my solicitors and Nat West "cannot be located" - funny that. Get offered £100 compensation which was going to charity. Told them to go away and rethink their offer.

Bad enough? Gets better!

18th of August send letter advising change of bank details. 19th August they receive  letter and then cancel existing DD payment for mortgage payment due 1st September. Yesterday I get a letter from them saying I have missed a mortgage payment! Complain to Nat West mortgage centre and was informed "ah - you should have been sent a letter stating that we require 14 days notice to make changes to your account but it looks like it was not sent". "You should have been told to make a manual payment in the interim" - thanks so much for telling me. No problem thinks I, Nat West say they will take an ad hoc payment and back date it to the 1st to sort out interest. How nice and kind thinks I.

A while later my mortgage advisor phones to say than my application to BM Solutions has been rejected because during my credit check, NAT WEST has placed a late payment marker against my name with Experian and Equifax!!!!!! Phoned Nat West again - they very apologetic and promise to get it sorted and marker removed. In the meantime it would appear that even if I appeal this incorrect marker with BM Solutions the case may not be able to be reviewed for at least 3 months and further more I may not be able to secure another mortgage for at least that time. In meantime rates have increased overnight. Nat West have now sent a letter to my mortgage broker stating that this error is in no way my fault. However, due to their error I may be materially and financially penalised as I am in the middle of raising finance to buy a further property with another lender.

So, what would you do and how should I make them pay?

I'm planning to go the the banking ombudsman and the FSA and obtain full disclosure of the case under the freedom of information act, but your experiences etc greatly and happily received.

I have my own plann including betting them to pay for any bridging finance that may be required but what else can I do. Here is the time and place to air your bank destruction fantasies!

Jools

Definitely Shat West!

I've never been through so much shat concerning banks before! Sounds frustrating! I don't even know what your rights would be, to be honest.

But I'm a bit worried that interest rates went up over night. I heard on the news this morning that Woolwich and HSBC and a few others increased their rates. I'm sure the other major lenders will follow! I'm meant to remortgage by December!! Ahh!!