Mortgage account dispute

racso1975

Hi myself and my wife were cleared for a tracker mortgage in 2004. We were do a self build. As you may remember backs at the time did a very competitive introduction rate. We could not avail of this due to stage payments. Once all stage payment were drawn down we wrote to the bank telling them to transfer us to the introduction rate for one year then back to the tracker(this letter was requested by the bank)

Talking to the bank the other day and this never happened. They claimed they sent out a letter to us after the year asking us what option we want to avail of and when they got no reply they just put us on the variable rate. I do not remember getting this letter and neither does my wife.

Surely our original letter stating we wanted to be transferred back to our tracker mortgage should have directed them in this matter.

I have copies of all correspondence to and from from the bank.

Given they have said they wont transfer us to the tracker should i now go to the financial ombudsman or what other options are open to us, if any?

Jet Black

The two problems I see would firstly be you would need proof the bank recieved the letter. You should always follow up any letter you send with a phone call to make sure it is recieved. Banks recieve thousands of letters each day and its easy for one to be misplaced or not get sent to the right person.
Second problem is time. If it was within a year maybe two when you noticed this it could have been fixed, but after 6 years the bank would assume you did not want to take the offer.

What you could do is go to your local branch, ask to speak to the mortgage advisor or manager and explain what happened. If they say they cant do anything try ringing the head office that deal with the mortgage. If that fails raise a complaint. Be it email, written or verbal make sure it is recieved. The bank will investigate it may take a week or so and will be back in contact.

You could try the financial onbudsman but I dont think it will be much good. You could try though.

Kate Moss

Hi Racso,

Im having a prob with the Bank as regards a tracker. I have logged a post on same a couple of months ago. Im wondering, did you submit a complaint to the Ombudsman? If so, would you mind me asking how did it go for you?

Thank you.