MSE News: Thousands of Santander mortgage holders could get payouts after blunder
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Well done Fleetingmind, I'm so pleased that you finally got some compensation and your efforts paid off.
No need for thanks to me.... I'm just glad people are still making some headway in this.0 -
For anyone interested I've had my complaint rejected by the ombudsman.
I won't go into it all but the pertinent paragraph is:
"Mr & Mrs M have said they may have done something differently had they been aware and that the rates in 2008 were much better than they were paying. There was nothing to stop them changing lender (or product with Santander) in 2008 if they wanted to get a lower interest rate. Mr and Mrs M would have incurred an ERC for coming out of their existing deal early, regardless of whether or not Santander had changed the margin and regardless of whether or not they were aware of the change in margin ( and the implications of that)"
So I guess that's it. Confirmation that I was not entitled to a 3 month ERC free period. I don't agree with the response but cannot afford the time or capital to drag this through the courts.
I wish anyone else good luck in their search.0 -
Mr and Mrs M would have incurred an ERC for coming out of their existing deal early, regardless of whether or not Santander had changed the margin and regardless of whether or not they were aware of the change in margin
That is NOT what the Mortgage T&C's say though. I'd raise this with a complaint within the FoS.... you have nothing to lose at this stage.0 -
That is NOT what the Mortgage T&C's say though. I'd raise this with a complaint within the FoS.... you have nothing to lose at this stage.
Thats the problem though. It's not definitive in the T&C's. It says the 'affected' part of the mortgage and as i was still on an introductory fixed rate, that part was not affected. I know others have got paid out regardless of this,but these details are not forthcoming and using a comparison as evidence in an Ombudsman case is like putting salt in their tea!0 -
Thats the problem though. It's not definitive in the T&C's. It says the 'affected' part of the mortgage and as i was still on an introductory fixed rate, that part was not affected. I know others have got paid out regardless of this,but these details are not forthcoming and using a comparison as evidence in an Ombudsman case is like putting salt in their tea!
I started getting somewhere when I emailed Santander CEO and then executive complaints. Luckily they had responded just as the FOS took up my claim as I suspect from dealing with them they would have declined my offer too.
Email the CEO and ask if they can point out where it clearly states you were excluded from not being able to leave ERC free. Them saying you were able to leave etc etc is all !!!!!!!! as it misses the whole point of the complaint. The fact you weren't legally given the information to then do something about it.
Good luck0 -
fleetingmind wrote: »I started getting somewhere when I emailed Santander CEO and then executive complaints. Luckily they had responded just as the FOS took up my claim as I suspect from dealing with them they would have declined my offer too.
Email the CEO and ask if they can point out where it clearly states you were excluded from not being able to leave ERC free. Them saying you were able to leave etc etc is all !!!!!!!! as it misses the whole point of the complaint. The fact you weren't legally given the information to then do something about it.
Good luck
Don't suppose you could DM me contact details for these could you?0 -
Just wondered if there had been any positive outcomes.
My case is being turned down by FOS as out of time.
Fobbed of originally as on a fixed rate mortgage.
But when I heard some people had been offered goodwill gestures I wrote to Santander again, and raised some new points.
The gave back all the usual, they had done nothing wrong etc.
Went to FOS but they are now saying out of time.
Santander has ripped of many people, and squeezed every last penny they could out of them.
It may have been legal but morally wrong !!0 -
Former_MSE_Helen wrote: »"Santander failed to clearly notify 270,000 Abbey customers it was hiking the cap on their mortgage SVR in December 2008..."Read the full story:
Thousands of Santander mortgage holders could get payouts after blunder
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I haven't had any letters, but a payment has been made to my bank account today. That's nice!0 -
So in February 2017 I complained, filled in all the paperwork they asked me to and sent it off. They replied in March 2017 telling me that my complaint wasn't being upheld. I was in the process of moving house at this point so kinda forgot all about it and didn't appeal this.
On Friday last week, I received a call from someone at Santander telling me he had reviewed my complaint and had decided that my complaint should be upheld and they would be writing to inform of such. I received a letter the following outlining the details of what they were offering and the calculations they used. They also offered a goodwill payment for rejecting my initial complaint.
Now we're not talking about large sums of money but every little helps. So keep an eye out for calls from "Unknown callers" on your phone. It's not always about being in a car accident or claiming for PPI :beer:0 -
Just a quick question- as Martin has been speaking in his blog yesterday with reference to claiming back tax on PPI claims, is it possible to do the same with the Santander cap rate margin payouts also? as the payouts were taxed 20% at source?0
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