From Andrew Parker
I became a customer (not an introducer) of Birmingham Midshires in September 2000 when I took out a mortgage for approximately 72,000. In October 2001 I requested a settlement figure including redemption penalties and was quoted 1,900 on an outstanding balance of 69,500. My statement quoted a redemption figure of 72,121.79 from a figure of 70,538.21 on September 20 2001.
I queried this with Birmingham Midshires three times before I got a reply in the form of a calculation breakdown of the amount owed, with figures based on 69,770.90 with penalties of 2,047.25 making the total 71,818.15.
The redemption penalty I had been charged did not take into account the eight months’ capital payments I had paid, which, based on the 5.95% rate, amounts to around 2,400 too much.
Since then I have called again on three separate occasions. Nothing happened as a result of my first call. Following my second call, I received an identical copy of the first letter. Today (July 30 2002) I was given the sum of 50 remittance and 25 as a gesture of goodwill – which I had paid for the calculation of remittance anyway, effectively leaving me no better off.
If I didn’ work in financial services I may not have noticed its error but since I did I have been disappointed with BM’ attempts to correct its mistake. BM is quoting two different figures and trying to get through to it to put right the mistake has been hard.
I am disappointed with the service I have received and turnaround has been far more than the five days quoted.
No one in authority wanted to talk to me until I advised it of the action I was taking in writing this letter to Mortgage Strategy. Finally, with the evidence in writing, I feel that Birmingham Midshires clearly does not stand by the decisions it makes and holds no code of conduct.
From Andrew Parker