Fixed Rate mortgage procedures not followed?

[jembo]

Can somebody tell me if I can get out of my fixed mortgage with my building society on a technicality? Initially i inquired about a fixed mortgage in july 2008, signed the form with the wife posted it But Cancelled on the phone... 3 months later i get a call offering a better fixed rate of 5.65% over 10 years, I accepted over the phone but no Forms with the new Rate were signed by me or the Wife!!! Do i have a case?

 

[marksa]

the facility letter or credit agreement should state the terms of your loan and that is what is legally binding... indeed it should have been signed and witnessed to be enforceable... get the bank to prove you signed up for the fixed rate... ask them for a copy of the contract, if they cannot provide it then tell them it is not enforcable as fixed and demand to be put to whatever is in your signed contract

 

[rameire]

you cancelled your fixed rate that you sent in by phone.
and then agreed a new rate over the phone.

if you were able to cancel the older FRA over the phone, i dont see how you have a problem with signing up over the phone on a new FRA.

they should have done security Q's and may have a recording, so I dont see how you can get out of it.
although they should have sent a letter confirming the new rate and repayment.