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1.no...The £1500 is not compensation, they have credited my mortgage account with this amount for their error 6 years ago it is the amount I am supposed to have underpaid for the last 6 years. They have admitted it is all their fault that my mortgage wasnt transferred to an offset repayment mortgage. The interest from my savings was supposed to go towards my repayments but I'm assuming this has been swallowed up by the interest only part of the mortgage.
2.I do consider they owe me more..they are now trying to say when I refinanced the mortgage they didnt increase the repayments accordingly but I distinctly remember when I went into the branch them saying as I had been overpaying there would be nothing more to pay as I had kept my repayments the same even after paying the £12000 off.
3.They are telling me I am due compensation because it is a serious issue and had to be dealt with at a high level.
I have done all that you have advised as above...I do not have to go down the ombudsman route as I have explained they are offering me compensation for the distress and inconvienience...but they want to know how much I want?