Banks - Treating Customers Fairly - Right! - James2018

The Mrs and I are moving home and we will need a £150k mortgage.

We meet all the critera and the loan is easily affordable.

The high steet bank offers two rates for the deal we are looking at. Say 1.80% with a £999 fee or 1.82% with no fee. The mortgage is to be for 10 years. Everything else is equal.

The person we were dealing with insisted the deal with the £999 fee is the one to go for and would not understand that the higher percentage rate is going to be cheaper for us in the long run i.e. £150,000 x 0.02% x 10 years = £300 so £699 cheaper!

This sort of thing makes me want to move my custom elsewhere, but the bank actually has a good deal so might end up sticking with them - but why do they try and take us for idiots!

If I took the loan with the fee would I have a valid mis-selling claim later on ;-)

Banks - Treating Customers Fairly - Right! - Palcouk

The deal with the £999 fee probably earns him a commission. (Which under rhe rules must be shown)

You are no longer dealing with staff that do anything more than tick boxes

Banks - Treating Customers Fairly - Right! - Leif

"The deal with the £999 fee probably earns him a commission."

Man, you just can't trust anyone these days.

It is worrying when you can’t trust a salesperson isn’t it.

Banks - Treating Customers Fairly - Right! - concrete

Reminds me of the late, great Sir Terry Wogans story. He wanted a £15 gift voucher from a well known store to give as a present. He asked the assistant and was told she did not have a £15 gift voucher, only £10 or £20 ones. He tought £10 was a bit mean so asked for the £20. At this point she said they had actually run out of £20 gift vouchers but could give him 2 x £10 or 4 x £5 vouchers. He smiled and said 'Just give one ten and one five please'

She did this, all the time a strange look on her face. She was grappling with the fact he got his £15 in gift vouchers but was not entirely certain how this had happened. And these people breed!!!!

Cheers Concrete

Banks - Treating Customers Fairly - Right! - Engineer Andy

I had to laugh at that. I think I've been dealing with similar idiots from my local council and their sub-contractors who (allegedly) empty our bins.