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11 September 2009

RBS Stay or Move ?

After 15 years with the RBS currently Private banking, with a perfect credit rating, we face the following. My wife & I are looking to purchase a rental propety with 35%-50% deposit, being private account holders we are Entitiled to discount rates on mortgage offers, however the Bank states they cant approve as i work in an unstable country that being Saudi, after two years i find it very stable. There are many Ex-Pats that work in Saudi that have new mortgages yet they dont seem to have a problem. The bank seems happy to make money from our income, and the five other accounts we hold with them, yet they wont approve the above, and after calling the bank they just send us back to our personal banker who just repeats the above, we can get offers from brokers but at an higher interest rate, so whats the point of Private banking with the RBS ?  Does moving banks affect your credit rating ? we are reluctant to move banks as the staff in the RBS in Gt Yarmouth have been excellent over the years, but the bank does not meet our needs, any advice on a bank that a least is more flexable & understanding ?    

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