Hi,
Due to attend mediation at FSPO office shortly.
In summary, property was sold on voluntary sale for loss. Later transpired lender had overcharged at early stage of mortgage. This error was unique to the account. Lender failed to apply tracker after coming off a subsequent fixed rate period. Property sold on false understanding of interest rate being a high variable rate.
Property was pdh initially before moving in with partner to their house. Rent could cover tracker repayments. Also lost option of choosing this house to live in with family @cheap tracker versus higher rate on spouses home.
Compensation paid was c 25% of the omv of the house. Appreciate any opinion/share experience of fspo mediation on tracker related issues.
Tks
Due to attend mediation at FSPO office shortly.
In summary, property was sold on voluntary sale for loss. Later transpired lender had overcharged at early stage of mortgage. This error was unique to the account. Lender failed to apply tracker after coming off a subsequent fixed rate period. Property sold on false understanding of interest rate being a high variable rate.
Property was pdh initially before moving in with partner to their house. Rent could cover tracker repayments. Also lost option of choosing this house to live in with family @cheap tracker versus higher rate on spouses home.
Compensation paid was c 25% of the omv of the house. Appreciate any opinion/share experience of fspo mediation on tracker related issues.
Tks