Abbey Mortgage Review

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1.1 stars
Average rating for this product is: 1.1 out of 5

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Guest's Review of Abbey Mortgage

16th Oct 2009

Overall Rating

1 stars
  • Value for money
    1 stars
  • Repayment Method
    Interest only
  • Product
    Variable rate

Got a mortgage with Abbey about 2 years ago. As it is interest only, I am obviously keen to pay off lump sums as often as I can. And this is the trouble.
Twice I have tried to transfer fund from a German account to my Abbey account, and although I have been told this is easy and followed the instructions given to me by 2 different customer operators, the money was sent back by Abbey minus various fees and exchange rate losses. To cut a long story short, Abbey supplied the wrong information which has cost me a lot of money. No apologies or refunds. THEN they told me it was easier to transfer the money into my Abbey savings account, supplied me with all the transfer details - and the same thing happened again. Neither my German bank or any other european or English bank could explain why, and the Abbey just came up with unlikely excuses. Again money lost, still no refunds or apologies.
On another occasion, I tried to pay money off in an Abbey branch, and the customer service person did it all for me. However, 2 weeks later a letter arrived which explained only some of the money had been taken off the mortgage as it had not been done correctly.
So far, all I have experienced with Abbey staff is total incompetence, wrong information, no knowledge of banking of any kind and the inability to rectify their mistakes.
If I was you, I would choose another bank, and mortgage rates are usually cheaper anywhere else. And if you are an Abbey customer : GOOD LUCK!!!

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