I currently have a mortgage with a bank.
Two months ago, they had an offer to fix our home loan interest rate for a year. We accepted this offer, we signed a document and they signed it too.
In addition to the written confirmation, we also got verbal confirmation from both the branch manager and his superior, that whilst it could take time to get it approved, the fixed rate will start immediately, and we will get a refund for all the extra interest we had to pay.
The other request is that we withdraw $5000 from our home loan. This is $5000 that we put in as extra on top of our obligations and are well within our rights to get. It is also $5000 that we need pretty urgently as we are about to go on an overseas trip.
It's been two months later, they still have not done the paperwork for it and now they are saying we cannot get this refund, and we cannot fix it at the agreed rate.
We have rang up the branch manager and gone to the bank numerous times. He never responds to the phone calls and when we go there, just says he will do it in a few days.
We have rang up the complaints department on numerous occasions who have also said to follow it up and who have since ignored us.
I would just like to know what recourse we can follow. It seems we have tried everything to resolve this with them, but even the complaints department has chosen to ignore us. All we want is our $5000 withdrawal, the fixed interest rate in which they signed off on and the refund for the extra interest paid.
In fact, firstly, all we'd like is for them to respond! Personally, I don't think we are being unreasonable.
Obviously I don't want to start legal action just to get a reduced interest rate but what can I do? Can I get out of the loan? Is there some organisation I can call who will help me?