Hi Folks, This is my first post on any type of forum so I hope you can understand it all ok! Just looking for opinions really. We have recently looked at changing our mortgage deal as fixed rate had come to an end. Our financial adviser recommended a Coventry deal as it suited our circumstances (no tie in). We were charged a £199 booking fee which we were well aware of and knew it was non refundable should WE not take up the mortgage. However, and this is my question... coventry refused to lend to us but have kept the booking fee - is that fair?? I fully understand why they would keep a fee if we turned them down, but to us it sounds like we have been charged £199 to be told we are unacceptable clients! We were quite happy to go with them and our mortgage adviser really tried to get them to accept us but they refused.Can we challenge this do you think? Opinions welcomed and thank you for your time.
Meant to add.....the other point which I think is unfair is that they processed our booking fee before they had any information about us or our financial circumstances? What is stopping them simply charging this fee then turning every application down? An easy way to make £200.....
Meant to add.....the other point which I think is unfair is that they processed our booking fee before they had any information about us or our financial circumstances? What is stopping them simply charging this fee then turning every application down? An easy way to make £200.....