Hi all. Just had a call from bank where I still have this "homeowner loan" and they have now deicded to "uphold" my complaint based on verbal misrepresentation of the loan at the point of sale. After coming up with a million reasons as to how this could have happened they finally said I did sign the agreement though, to which I said based on the verbal selling and I was not to be expected to see of the agreement contradicted what was said. They have agreed and offered me compensation....BUT....£150....to which have suggested was a bit of an insult considering if the features of the loan were available I would be saving closer to £20,000 in interest. So tomorrow I think I need to compose my thoughts an d figure out what to do next. Apparently there is a letter confirming their offer in the post....any thoughts at what to do at this stage? Do you go court now for the sheer hell of it?

Hi Rebel11 Thank you so much for your advice. I have emailed the Company and the FOS today saying I do not accept the FOS's final decision and have equally asked the company confirm they have had their final say. At the same time I have asked the matter to be referred to a team within the FOS which apparently look in to how the Ombudsman arrived at their decision...(although I do not hold much hope with this). I am just about to prepare a case for "verbal misrepresentation" based on "incorrect information being given" and "failing to provide certain facts" and I have mentioned this in the email to both of them so they know what I am going to do next. I will now look at your links as well as this is such a no brainer in terms of what the recording say I am amazed the FOS have decided how they have. I will certainly keep this forum and thread updated on how I go on. Thanks again for your help!

Hi All. This morning I got my final decision from the Ombudsman after the file was passed beyond a case worker. The FOS have rejected my claim which I feel is a no brainer and has left me a bit confused about the whole FOS purpose, as the company are recorded giving false and inaccurate information. I have all recorded calls which proves beyond doubt a loan I had was sold to me with features which do not exist and also using expressions which lead me to believe the loan was fixed rather than variable. ie them using words like "remainder" and "thereafter" in relation to monthly payment amounts. The FOS have said as I have signed the agreement, the fact the advisor failed to mention in EVERY call the loan was variable and did not point out payments could go up or down was okay. The FOS seem to think they did not need to mention this. The FOS have failed to comment on why the adviser told me I could over pay each month when this is not a feature of the loan. Almost as if they have not read my complaint and listened to the actual recordings. It seems they are just relying on the signed agreement. I can imagine its easy to sound hard done by here, but the recordings are so clear in what was said and what was omitted I need to know what the next best step is in order to ensure the recordings are listened to and justice is done. Does anyone know if am I best employing a solicitor or just going down the court proceeding route myself as it is so black and white the incorrect information sold to me and the numerous breaches of the CCA and OFT rules. This really is not just my imagination but the FOS rejecting my claim has left me confused. Thanks in advance for any help and pointers. RP