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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I obtained a commercial property approximately 7 years ago

Customer Question

I obtained a commercial property approximately 7 years ago through Lloyds Bank 50% of the mortgage was fixed rate, 50% was on variable rate. We paid off the 50% variable rate some time ago (approx 5 years ago). However, after having a statement we noticed that we were still being charged interest on the 50% we had paid off. On enquiry we found that the 50% had not been paid off and the sum for the pay of off the variable rate element was put into a 'holding account' Lloyds paid off the account immediately after we noticed the problem but have avoided the question of repaying the interest charged. This has been going on for at least 4 years with the usual promise of 'we will sort this out, but no one has. I think they are hoping I will go away but I won't Many thanks for any help. Keith XXXXXTel: XXXXX XXXXXX email: XXXX XXXX @XXXX .XXX

Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.
Alex Watts : Hello my name is ***** ***** I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply.
Alex Watts : Have you complained to the Ombudsman yet please?
JACUSTOMER-zokw4209- :

Alex

JACUSTOMER-zokw4209- :

Many thanks

JACUSTOMER-zokw4209- :

I havn't complained to the obudsman before re this

Alex Watts :

Ok - first step is to complain to Lloyds bank

Alex Watts :

Do that first and say it is a formal complaint

Alex Watts :

They will investigate the complaint under their set procedure which you can get a copy online

Alex Watts :

Once you have that and only when they give you a final response can you complain to the Ombudsman

Alex Watts :

They offer a free, independent service

Alex Watts :

You can use this at: www.financial-ombudsman.org.uk

Alex Watts :

But they will have expected you to have complained to the bank first

Alex Watts :

This should hopefully resolve your problem

Alex Watts :

So first complain to Lloyds and second Ombudsman

Alex Watts :

Can I clarify anything for you about this today please?

JACUSTOMER-zokw4209- :

Thank you for your reply

Alex Watts :

Happy to help

Alex Watts :

If this answers your question might I invite you to rate my answer

Alex Watts :

If the system wont let you please do say

JACUSTOMER-zokw4209- :

I have asked Lloyds many times and have received promises that this will be sorted out but it never has been

JACUSTOMER-zokw4209- :

Regards

Alex Watts :

Well you need to make a formal written complaint using their complaints procedure

Alex Watts :

http://www.lloydsbankbusiness.com/complaints.asp

Alex Watts :

Does that help?

Alex Watts :

If so might I invite you to rate.

Alex Watts :

If you need more help please click repl

Alex Watts :

* reply *

JACUSTOMER-zokw4209- :

Many thanks

Alex Watts : Great. If I could ask you to rate please.