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    • Thank you so much for your replies.   Yes, I have text messages from the tenant acknowledging all the visits made by the professionals (handyman + double glazing maintenance person + 4 different plumbers)   4th plumber visited the property 4 different times and on three of those occasions found the boiler turned off. The tenant claimed she didn't know anything about it and said it must have been the other tenant who did that.    I have an email from the plumber detailing each visit and he's happy to be contacted by the solicitors if need be.    The tenant claims she didn't have hot water for 10 weeks but the plumber says the hot water was always working. His letter says, with the tank having a 210L water content, it was obvious that demand was greater than supply capacity.  The plumber is convinced that there's never been anything wrong with the hot water. His opinion was further verified after his discussion with the tenant's grandfather (who was present during his last visit) and being informed that the tenant had showered at his property the night before (spent roughly 20 minutes in the shower). Just to be able to say we've done something, the plumber replaced the two working standard stats with high level stats to allow the tank to regenerate quicker. He says this is not ideal as the high level stats will cause the tank to scale at a much quicker rate and will ultimately cause the tank to fail and need replacing as the scale can not be removed. He's done this just so the water heats quicker even after 20 minute showers.  (The tenant says this has solved the problem and that they have water left after they take a shower)   Both tenants are named on the agreement. I'll ask the Estate agent about the signed documents from the original guarantors but I'm certain that we have them. Everything was done according to books.   There's literally no mention of a Vacating Sharer in the agreement. It's a 12 month fixed term contract with both names on it. We're on month 6 now.   I really don't want to keep this tenant for another 6 months but the estate agent is saying that we have no choice but to accept the "vacating sharer" agreement even though "she will have a guarantor as her references do not meet criteria"   Do I have a right to object or is the estate agent telling the truth?   Thanks again!        
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Nat West heads in sand

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Hi

Ive recently complained to NW about a missold overdraft dating back to 2013

during my preparation I requested a SAR , they complied and sent me "everything " that they held.

I thought that my case was a sure fire winner but the bank didn't and I then decided to take it to the ombudsman.

 

After many emails and phone calls my case seemed to be floundering and whilst looking again at the data NW had sent in my SAR I spotted something which appeared to be a serious error by NW .

 

The document that I was looking at was a copy of the OVERDRAFT CONFIRMATION LETTER  dated 16th July 2013

 

The attached letter states para 2 THE TOTAL COST OF CREDIT

I firmly believe that the figure of £182.30 ( which it goes on to explain is the cost of maxing out the £4000 overdraft for  a full 3 months)

is wrong and I presume that if I am correct it could/should add weight to my denied claim for misspelling.

 

"this is a calculation we are required to provide and shows the cost over a period of three months based on you drawing the whole overdraft facility in full immediately and keeping it at that level for the whole three months.

 

The period starts on the date above which is the date the overdraft was agreed.

The cost of credit comprises interest and fees over the period and assumes interest rates and the amount of any fees remain unchanged.

The fees include any Arranged Overdraft Usage Fee and /or account fee payable during the period"

 

 The interest rate  on the overdraft is 18.28% and there is a £6 per month arranged overdraft fee.

 

using the NWs own interest rate calculator I find that the TOTAL COST OF CREDIT should be £200.30

 

My calculation has been checked by my brother ( a maths teacher )

my son ( an accomplished aerospace engineer) 

and my lovely next door neighbour ( a chartered accountant)

and each of these agree with my figure.

 

Now here is the rub

NW insist that the figure they used ie £182.30 is correct and four different people at the FOS agree.

 

However and I have told them a million times they are forgetting to add the three payments of £6 each month ( arranged overdraft fee)

Which would make it up to my figure ie £200.30.

 

Nat Wests reluctance to "see the light" on this point makes me wonder whether this could be a mistake that they have made with thousands of customers and just don't want to have millions of pounds knocked off their balance sheet due to claims of misleading/misselling.

 

They have dug in and will not admit that my sum is correct and they have also misled the ombudsman who , moreover, is guilty of not being able to do an O level maths sum and who have been lazy  and biased dealing with my claim. 

 

Any comments or advice would be very much appreciated. thanks

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I suppose it's a case of do you include the monthly fee or not as to who is correct.They will argue until blue in the face its a service charge and not a fee.

 

If your wishing to reclaim it...follow the following link.

 

 

Just for future knowledge things are changing from next year...

 

 

Regards

 

Andy


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Thanks andy I will check that out but the overdraft confirmation letter FIRMLY states that the cost of credit includes interest and fees these fees include any arranged od usage fee and or account fee payable during the period .

They can hardly argue with themselves .

 

DIRECTIVE 2008/48/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

of 23 April 2008

on credit agreements for consumers and repealing Council Directive 87/102/E

I came across this and sect 920 describes my situation . A nyone agree?

 

Sorry paragraph 20

 

and towards the end of the directive ANNEX1  PART II SECT (H)

 

I am still confused as to how the nwest complaints team and then the FOS TEAM have been unable to come to the same conclusion as myself, to me its as clear as day. they have misstated or misled me and surely there should be some comeuppance.

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So what exactly are you trying to achieve ?

 

Link for the above.....

 

https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX:32008L0048


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Originally I complained to NW that a visit to my branch back in 2013, to discuss my burdensome overdraft of £2900 with a view to taking a consolidation loan, resulted in an INCREASE of the fore-mentioned overdraft to £4000 forced upon me by an expert pushy pressurising forceful salesman . its only recently that I have managed to bring the overdraft down to a reasonable level £1000 and I reckon that ive paid thousands more in interest than a simple 2 or 3 year loan would have cost.

NWest denied that I was treated unfairly and the ombudsman crazily agreed.

it was then that I noticed the copy of the overdraft confirmation letter and I spotted the anomaly. I thought this would mean an assured victory not only was I missold I was also misdescribed and misled and later on treated like an idiot who cannot add up simple sums.

What would I like to happen. ?  realistically I still feel that I was missold a 30 % or more increase in an overdraft that I was telling them was already unaffordable its meant ive paid thousands of pounds in unnecessary interest and fees when my only "fault" is that Ive tried to be responsible and astute and address a potential problem debt. the bank and the FOS are a total waste of time . I suppose that I would like some sort of vengeance.

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I don't think they would include the fees within cost of credit calculation, as that is just looking at the interest.

 

The overdraft was increased to £4000, but they would not have told you to use it.  They told you the interest cost of having an overdraft for that amount.

 

Surely it was up to you to investigate whether a loan was available or not. Perhaps NatWest did not offer this, as you would not have qualified for a loan with NatWest ?

 

 If you believe that NatWest failed to provide full advice to help you deal with financial hardship, then I think you need to come up with a more comprehensive argument. The FOS if they have issued their final decision will not get involved further with the same complaint.


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With great respect the overdraft confirmation letter ( its on nat west headed paper) and it begins THIS IS AN IMPORTANT DOCUMENT

then 

"this is a calculation we are required to provide"  blah blah  "the cost of credit comprises interest and fees.....the fees INCLUDE any arranged overdraft usage fee and/or account fee payable during the period" ie 3 months.

Its easy to argue that as this information ( total cost of credit) is misleading then my consequent decision to accept the terms and proceed with the overdraft was not based on any factual or clear knowledge.

I keep repeating this but its the mainstay of my argument now that they have poo-pooed my valid unaffordable claim. the figure that they have given me is wrong. they have failed to include £6 times 3 so in other words £18 underquoted or rather a 10% understatement! l

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