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- gbrow31's review
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| Value for Money | 0.5/10  |
|---|---|
| Overall rating | 0.5/10 |
By gbrow31 on 3rd Jan 2007
| Product | Variable rate |
|---|---|
| Repayment Method | Repayment |
| Value for money | 0/10 |
| Overall value | 0/10 |
 gbrow31's recommendation | |
Mortgage set up was straight forward
See below...
I took out a mortgage with them at the beginning of 2006. In June, my circumstances changed, and as a result I contemplated selling my property. However, having experience in the mortgage industry, I was worried about early redemption charges. Rather than sifting through numerous documents, I phoned IF to find out if early redemption charges would apply, a call which my family remember me making. The member of staff I spoke to said that there was no early redemption charge on the type of account I had. I can explicitly remember the relief and excitement that this news brought. Upon hearing this, I decided that I would sell my property rather than staying there or letting it out. The sale went through. However, when I received the money from the sale, it was c£2,000 less than I thought it would be. Upon investigation, it turned out that there was c£2,000 early redemption charge applied on my account.
When I phoned IF on 7th December, I was told that there was no record of my call, which has put me in a situation that it is my word against theirs.
While I accept as it currently stands IF are legally correct, morally I don't feel the company has acted with integrity. While I have tried to narrow down the time frame of the call and provide the telephone number it was made from, they have made little or no attempt to help me track it down.
If you do opt to do business with IF (Intelligent Finance), please be sure to get any advice they give in writing!
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