MSE News: Thousands of Santander mortgage holders could get payouts after blunder

13567…59

Comments

  • spangles1967
    spangles1967 Posts: 12 Forumite
    I have been with abbey/santander since 2000.All of my deals have been fixed rate,unsure which years my fixed rates were renewed,my morgage is due to be paid in full Dec this year..Im a bit confused by it all,any advice would be much appreciated,thankyou
  • Jed_Exodus
    Jed_Exodus Posts: 93 Forumite
    I got this letter today, has there been any advice yet? Like a couple of others here I took out 5 year fix at 5.9% in 2007, then spent the next 4 years looking to get out of it as the rates dropped. If I'd known in 2008 I had an opportunity to pay it off without a fee I would have switched.
  • kingstreet
    kingstreet Posts: 38,750 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Jed_Exodus wrote: »
    I got this letter today, has there been any advice yet? Like a couple of others here I took out 5 year fix at 5.9% in 2007, then spent the next 4 years looking to get out of it as the rates dropped. If I'd known in 2008 I had an opportunity to pay it off without a fee I would have switched.
    As I posted last week;-
    If one of your customers receives a letter, they can go to the Santander website and enter the individual code shown in their letter to see the relevant FAQs. If they’d prefer to speak directly to someone, they can call the dedicated telephone team on 0800 389 6370.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • bexstar07
    bexstar07 Posts: 2 Newbie
    Wow! I came on here looking for some advice... Don't think il bother!
  • bexstar07
    bexstar07 Posts: 2 Newbie
    Jed_Exodus wrote: »
    I got this letter today, has there been any advice yet? Like a couple of others here I took out 5 year fix at 5.9% in 2007, then spent the next 4 years looking to get out of it as the rates dropped. If I'd known in 2008 I had an opportunity to pay it off without a fee I would have switched.

    Exactly the same deal I had. I was the same. Phoned up a few times and asked how much the exit fee would be when the rates dropped. I think we could be owed something maybe..
  • Jed_Exodus
    Jed_Exodus Posts: 93 Forumite
    Kingstreet the website shown on the letter doesn't really give much information other than explaining further what's in the letter. What I think everyone who was in my situation wants to know is if they can claim their money back. If I had switched in 2008 I would have saved somewhere in the region of £10,000. I don't think Santander are going to be keen on letting me know themselves if I have a claim for this amount of money, that's what this site is for.
  • kingstreet
    kingstreet Posts: 38,750 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Until someone actually contacts them and finds out their situation we can only follow the instructions given. Someone has to bite the bullet and be the "guinea pig" for everyone else.

    I didn't have a mortgage with Abbey - not since 2000 anyway.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • kr01
    kr01 Posts: 21 Forumite
    hello I got a 5 year fixed rate mortgage in Dec 2006 this was then abbey.
    I got a letter off them today but could not understand it I rang them and they just said it did not affect me as I was on a fixed 5 year deal after this it would revert to the svr
    I was looking for my mortgage papers and it says that if I wanted to repay any of the mortgage within the 5 years I would have to pay early repayment charge.
    I don't trust any of these people and just wanted to know if this is right or not thanks
  • Jed_Exodus
    Jed_Exodus Posts: 93 Forumite
    That's my situation too, the recent letter they sent doesn't really say that, in fact it implies that I'm unaffected by all this but I keep asking the question, why did they write to me if that's the case? I guess I'll be giving them a call next week if not tomorrow and will post updates here.
  • Sadnbroke
    Sadnbroke Posts: 1 Newbie
    edited 3 May 2013 at 11:07PM
    We had a 2 year tracker deal that finished Feb 2007, we then went on to a 10 year fixed deal at 5.9% as that was the only deal we could afford. We were not told we could change.
    Over the period we have asked many times if we could change, but were told not without paying the excessive exit fees. I telephoned them today but they said we are not affected as the deal was done prior to 2008.
    I have made a complaint and they have given me a complaint number, but they said the complaint will be declined.
    I have always felt that we were miss sold this 10 year deal, and it was rushed through, if we had known at the time we had other options we would not have signed up. Any advice or help would be much appreciated.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards