To not WANT a recommendation?? Just give me the numbers!!

[LimburgseVlaai]

We are trying to borrow some additional money on our current mortgage to pay for some building work. The amount is well within reason given the value of the house and our incomes. You'd think that would be easy wouldn't you?

No.

I had to be on the phone for TWO WHOLE HOURS going through all sorts of stupid bloody theoretical questions about what is more important to you: risk or budget or terms blablabla, and yaddayaddayadda..... And another 20 minutes last week... and another half hour just now ...

The upshot is that banks are no longer allowed to give you a menu of options (rate/term/fee combinations) and you make your choice; no, you have to go through your entire philosophy of life, the universe and everything, and they can NOT give you a menu of options, they have to do the cost comparisons at their end, and then give you ONE recommendation. All because of the new regulations.

I am beyond pissed off about this. How can I say whether I am prepared to take a slightly higher rate if the upfront fee is slightly lower, if they don't give me the exact amounts we are looking at? Just give me the fucking numbers and I will make the choice myself!!

Not blaming the poor sod on the phone who is just reading the script - but this system seems ridiculous! Or AIBU?

LOL!! We are going through exactly the same crap! OH is a partner is a well established business (90 years!) which is growing year on year. He demonstrates more than enough income for the repayments on the little extra we want to borrow. It was all verbally OK'd but now we are literally jumping through hoops to get it-each time we provide some more information that they request they ask for something else! I swear to god they'll want inside leg and bra measurements next! They also have chosen to ignore other secure income we can demonstrate that also would cover the monthly repayments as they have decided that doesn't count

They also need full ID, proof of residence etc again-despite the fact we are currently mortgaged with them. So trying to find paper evidence in this wonderful world of paper free statements and bills is great fun!

YANBU-I feel your pain but I unfortunately think you have a lot more time to go until it is sorted-we have been at it for months now!