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tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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we are a breakdown/recovery company my wife jean and I estabilished

Customer Question

we are a breakdown/recovery company my wife jean and I estabilished the company in 1968
we have had our difficulties over the years but our now becoming very profitable
our question is this we have bank withy the royal bank of Scotland for most of our existence
in 2005 we were about to buy our now property so we went to rbs for a mortgage for 10 years
we recently found out that what we thought was a mortgage was a bank loan with interest payments only reducing the borrowing by very little
we have a document that states that we had taken on a regulated mortgage contract it does not state it is a loan
since 2005 we have paid rbs over £96000.00 ourlast statement said we stiil owed them £99000.00 we think our original mortgage debt was £14000.00
could you please look into this matter with theroyal bank of Scotland as we think we that they have stolen from us
yours faithfully

mel thomas
Submitted: 4 years ago.
Category: Law
Expert:  tdlawyer replied 4 years ago.

tdlawyer :

Hello, my name is Tony. Welcome to the website, I will try and suggest how you can seek to resolve this.

tdlawyer :

Did you have advice from a financial advisor at the time and do you have access to an advisor now?

Expert:  Nicola-mod replied 4 years ago.

Just a quick reminder, there is an information request here from the Expert. This means they need to know more details before they will be able to give you a full answer.

The site cannot act for you but experts can give advice on your questions.

Thank you,
Customer: replied 4 years ago.

when we took out what we thought was a mortgage we thought that rbs were doing their best for us as it turns out that was not he case

we feel that we have been mislead by their actions


mel thomas

Expert:  tdlawyer replied 4 years ago.
Hi Mel

Thanks for letting me have this additional detail.

Okay, it's important to work out whether the bank was advising you, or just following through and implementing your wishes. Assuming that it was advising you, and it got it wrong, then you should be able to have some redress and compensation.

The best service to use to resolve this is the financial ombudsman service. The ombudsman's website is here: This is a free service and the ombudsman will investigate your complaint for you fully.

You will need to complain to the bank first, but once you have done that, the ombudsman may be contacted.