Bank of Scotland Trouble

[MrMagoo]

Hey folks

We have been accepted for a 100% mortgage from Bank of Scotland and are in the final phase of drawing it down, the letter of offer had a couple of details that were wrong and we asked them 2 1/2 weeks ago to send a correct one out.

They said they sent it to us twice, but the solicitor never reieved it, we then complained and they said to solicitor they would fax us down the relevant document to save time. We recieved them Tuesday evening last, and signed them Wed morning. Solicitor sent the doc off Wed, but apparently our mortgage broker has told me today that the Bank of Scotland are not going to honour the fixed rate @ 4.75% and our new rate is 5.25%, and they will also have to re issue another letter of offer. This is so frustrating. is all this acceptable? Normal?

Any help appreicated.

Magoo

 

[JJ1982]

Re: Bank of Scotland Troble

Hiya

Same here, rate was meant to be 4.75 and is now on a tracker. they say they are going to review fixed rates soon and offer them. but i think its actually ok for them to chage at this late stage, not nice but not illegal. you are lucky they left your 100% go through, i was told last week we would only get 90%, my broker fought my corner for me though!

 

[MrMagoo]

Re: Bank of Scotland Troble

Cheers for that, The thing is is that the solicitor didnt even know about the changes to the bank of scotland offer, and we signed our contracts for the house and letter of offer with the rate of 4.75% fixed for 1 year. We sent it off Tuesday and he has since requested to draw down the money.

Will thay cop it or allow it, he seems to think we have a case against them as they faxed the relevant forms through on Mon and said nothing about the changes or deadline on Tuesday, we could have gotten the signed forms in on time if we knew.

Cheers