Clydesdale Bank Mortgage Nightmare

[allybally1]

Hi, Im relatively new so hello to everyone. Im wondering if anyone can help me with a situation re the Clydesdale Bank. We applied for a Current Account Offset Mortgage with them back in June 06 - and believe it or not, it only became fully functional 10 days ago!!

The amount of time, money, stress spent on this has been incredible - I just don't believe they could get it so wrong. So many things just didnt get done with them and the result was us losing a lot of money in interest rates and charges.

I am asking for compensation and I was asked by a member of their complaints dept (very matter-of-factly) how much I wanted. I did not answer this - should I have? Should I give them a figure rather than wait on them offering? :?

[kennythecelt]

Hello to you too!!!!

Sounds as if you have had a bit of a nightmare.

Can you be a bit more specific please. I am sure we will be able to point you in the right direction once you do this.

[allybally1]

Hi kennythecelt, thanks for your reply. I will try and explain this situation although I may miss out a lot of stuff as I dont have the file to hand. About thirteen months ago I applied for a Current Account Offset mortgage. After 6 weeks I still had not heard back from the mortgage manager, so I phoned and was given some wild story. 3 months later I still had not heard anything plus the chap lost all our personal documents. I complained and was given someone else to deal with. 3 months later - still awaiting the completion of the mortgage. We were given excuse after excuse. By the beginning of year I was really losing my patience. We were promised it would be completed by the end of the month. To ensure this would happen I phoned their solicitors and paid the redemption amount from my old mortgage. No-one contacted me to tell me that although I had paid the redemption fee to the solicitors they had not completed the mortgage and I was then in arrears with my old bank. It took them a further 3 weeks to complete the mortgage. But they had not set up a current account and done the necessary work to transfer our direct debits and close our old account - so they were taking their payments for our new mortgage from our old bank account, which meant we were not getting the product we applied for (whatever you have in savings is offset against your mortgage and you save on interest). Instead our savings and direct debits were still with our old bank, so we were not saving anything in interest at all. It took them a further 5 months to set up our current account and direct debits and to finally close our old account. Many many things happened in between this too, and throughout this time we were passed to 6 different people to deal with all over the country. It has been unbelievable. Throughout this time I was phoning them twice/three times a week (some calls for 25/30 mins) over the 13 months. aaaggghhh!! It has been the most stressful time and we missed our holiday last year because they lost our passports. I think they are going to skimp on the compensation side and Im not accepting it. Sorry to have gone on and on but it has been a very difficult time. Let me know what you think.

[maroondevo52]

Hi, Allybally.

 

What a nightmare.

 

There is a Mortgage Forum, where I think you would get more replies to your problem.

 

http://www.consumeractiongroup.co.uk/forum/mortgage-companies/

 

Regards.

 

Scott.