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Saturday, 16 October 2010


I hate them.

Myself and Mrs FE having been trying to get the eldest daughter and her Fiancée's feet, on the housing ladder.

Well they approached  a well known high street bank for a mortgage and were assured that a mortgage was just about guaranteed. But with strings. In order that they would be granted the mortgage I would be required to lodge a substantial amount of dosh in one of the banks deposit accounts for 36 months.

Now of course the bank had to have the property valued to assess the worth of the property, against the 90% they were willing to lend.

They forgot.

Because of the delay another buyer jumped in with a higher offer. Well the daughter put in a higher offer, not vastly higher than her original bid, but higher than the other bidder.

Job done you say.


Now the bank wouldn’t lend for the extra price. Apart from the fact that it took weeks to come to the decision, they’d been sitting on my money in one of their holding accounts all that time.

It looks like the problem is maybe resolved as I’ve informed them that I’ll add another substantial amount to the deposit and the bank has agreed in principal. I’m not holding my breath though, as all the way through there has been other issues which I can only put down to sheer incompetence.

Hopefully exchange of contracts will be Tuesday.

Oh and if I was to see a prancing black horse in the high street, I’d shoot it.

Sometime I’ll do a post about when I helped out on a forum to assist those who had their lives ruined by bank charges. I’ve never seen so many ruined lives as then.


  1. The banking system is shocking and set to get worst under the Con-Dem party alliance. Comrades the day will come when these greedy b'stards will be made pay for their greed and it cannot come soon enough.

  2. Considering the bank in question has just laid off/made redeundant another few hundred (out of a total now of about 15,000) I wonder how many staff are left able to perform the duties a bank needs to do to make money.

    The moral at the bank is at an all time low. Which could explain your experience with getting a mortgage. People who were reprived from losing their jobs a few months back have just been informed that they will have to interview for their own jobs soon. People are leaving before taking their redundancies because they are so pissed off.

    It seems Lloyds' policy is to get people to interview for their own jobs every two years or so. One way of performing a cull of underacheiving employees, but not a nice one.

  3. Don't get me wrong. It's the sheer incompetancy of the systems in place in the banks that is the cause.

    My wife and one daughter used to work in banking. They are apalled at the lack of knowledge of a large majority of the staff due to cut backs in basic training.

  4. With you on competence - they are really disgraceful.

    Not so sympathetic on charges, to be honest. Everything is there in the small print; if you don't read it, and/or don't honour the agreements you've signed up to, you don't have any gripe when the advertised penalties come into effect. If you don't understand that, you shouldn't be opening a bank account, frankly.

    Lives ruined? Get real.


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