PPI Reclaiming discussion Part III

marshallka

and here about interest only payments

You said:
How can I change my mortgage to an interest only basis?

Our answer is:
A charge is made for changing your mortgage repayment type from a repayment basis to an interest only basis or vice-versa. [URL="javascript: bot_nav( 'http://www.cheltglos.co.uk/feesCharges.html' , '' , 'opener' );"]View our current service charges.[/URL]

You'll need to quote your mortgage account number whenever you have a mortgage query. This can be found on your mortgage statement or other mortgage related letters.If you chose to have an interest-only mortgage, you should be aware that:

- You'll still owe the full amount at the end of the mortgage term and it is your responsibility to make separate arrangements to repay this amount at the end of the mortgage term.
- It is your responsibility to check regularly the performance of any repayment plan, to see whether it is likely to be adequate to repay the capital at the end of the mortgage term.
- If your repayment plan fails to provide as much as you anticipate at the end of the term, you may have to sell your property to repay the mortgage.

trini

maxdp wrote: »

Trini they hide behind the small print. It is up to them to prove that your received it. Did you sign anything and send it back

Not that I am aware of but if I go back to them and say that they will just say that as Goldfish was administered by so many different companies before it was sold to Barclays they do not have access to this information

marshallka

With our mortgage we are always getting bits through the post and with other accounts saying about amendments to our terms and conditions and often we do not read them all. Sometimes they have been known to go straight to the recylcling...:o

trini

marshallka wrote: »

I added to the post about the GISC and 8 other schemes making up the Ombudsman too after you quoted this. I don't know if Goldfish would come under them... . Also was it actually Goldfish that sold this to you??

It was either the woman who sold me the Goldfish credit card on the street or someone in their call centre but I have no records of it

trini

maxdp wrote: »

Trini this is typical barclaycard. Do not go along with that. I am sure that I am right in saying that until that date they were not meant to be doing advised sales. Cause they were not trained to do so. Although saying that they did t advised sales cause they advised you to take the PPI.You should have been informed that you could take a stand alone policy that would have been cheaper. They were also not trained to advice on your medical conditions etc.

I would advice to write back re-iterating your complaint. Give them a time limit to write back. Also advice that you will take this to the FOS if you are not satisfied with the reply. It will take up to a year. Do not be put off by this cause the more people that complain, then eventually hopefully Barclaycard will also be fined for miss selling.

I have a complaint in with FOS at moment. They have paid back some of what is due to me in July since then no communication even though the FOS is involved.

Thanks can I write back to them even if their letter states it is their final response?

trini

marshallka wrote: »

I have only used this facility one time as it then pushed up our repayments and like you say the interest is still added and then repayments more so we try to never use it. Also in MOST of the t and c's about this facility it states about the LTV not exceeding the criteria and as house prices are crashing then some do actually do this...we resorted to paying interest only this year....

Wow never heard about the LTV but suppose every company is different I know that isn't the case with the company I work for. But we would charge you to convert to int only and also need it to be agrred by u/w. Usually our customers payments only go up about £5 after 1 month payment holiday if they choose to have them recalculated at all or they stay same til rate change

blondie27_2

marshallka wrote: »

Hi, how long ago was this actually first applied to the card??

it was 2004 when i applied for the card - i got this info from my experian report. thanks for your help!

marshallka

Just found this Di on C and G's Mortgage Booklet

You can pay less some months or take a complete break
There are certain circumstances where you can pay less than the full monthly mortgage
payment that is due or even suspend your payments for a short time:

•

Take a Payment Holiday

If you’ve been making regular overpayments, you can take a Payment Holiday. There is no
charge for this service.
•

Take an Instalment Break

After 12 regular monthly payments, even if you haven’t been making regular overpayments,
there are certain circumstances when you can ask to suspend your payments. If this is
agreed, you’ll need to pay a charge. Please see page 16 for details of the charge.
To talk to us about taking a break, please contact your local branch or phone our Helpline on
0845 6031 637

.

Just as making extra payments reduces your mortgage balance, underpaying or suspending
payments will make it go up. You also need to be aware that the fact you are not making your
full monthly payment may be picked up by credit rating agencies and may affect any
borrowing you apply for elsewhere in the future.
Underpaying or suspending payments can continue for only a short period, that must be agreed

first, and you must start paying your full monthly payment again at the end of the period.


http://www.cheltglos.co.uk/export/sites/consumer/documents/CGP_6000_Right_choice_booklet.pdf

blondie27_2

di3004 wrote: »

Hi there Blondie.

How long ago was you sold this Credit Card hun?

And if this was just a few years ago you could ask them for a copy of the agreement which they may charge a £1 cheque for, but check with them first then request in writing by post recorded post, although you can always request a SAR which is known as a Subject access request, where they must supply ALL info they have on you on your account(s), but there is a charge of £10 cheque or postal order payment for this, as always post by recoreded signed for delivery.

They have 40 days from the letter request to send this to you.

This may be useful, but please bear in mind they may only go back as far as 6 years, some are lucky and may receive info going back further again.

Here is the SAR letter template below, good luck and post up anytime when y ou require further help from here.;)

Di
x

SAR - SUBJECT ACCESS REQUEST

Dear

Re: Account number:

In the first part under the Data Protection Act 1998:

Under the Data Protection Act 1984 and 1998, and including the right of subject access under these acts, please supply me with a complete list of transactions and charges relating to the above accounts held with you since they were opened.

Additionally where there has been any event in my account history over this period which has required manual intervention by any member of your staff or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention or other evidence of that manual intervention in relation to my business with you.

If you are unable to supply data relating to manual intervention because there has been no such manual intervention then please be kind as to confirm this in your response to this request.


For the avoidance of any and all doubt, I reiterate:

I hereby request that you supply me with any and all historical data in your possession which, in any way appertains to me, including (but not exhaustively) a copy of the original signed executed agreement; statements of account; duplicate statements and/or print outs of all account transactions; all internal and external correspondence sent or received by you including memo’s, logs, notes, screen prints and transcripts; notes of manual interventions such as telephone attendants' notes, copies of stored telephone conversations, internal and external emails; any other information held on any/all types of media in any relevant filing system (microfiche included).

If you have disclosed any information to a third party (with or without my express permission), will you please include details of this in your reply, along with notes of any legal action passed or pending (to include a true copy of default notices, court orders and the like).

Where any information that you provide includes any charges, for example returned payments, late payment fees, and so forth, would you please advise your breakdown of actual costs (liquidated damages) incurred for each charge, and the Term or Condition on which you rely upon to claim such a charge.





I also require that you forward, within the above mentioned time scale, a true copy of the Terms and Conditions that were in force at the time my account was opened, and any subsequent amendments to those Terms and Conditions.

I enclose the statutory maximum fee of £10.00 to access ALL data held by XXXXX about myself. You should be fully aware of your statutory obligations under the Data Protection Act and that any failure to comply with this request will involve a complaint to the ICO as well as potential legal action.

You have 40 days in which to comply with this request.

This communication has been sent Recorded Delivery so I can ensure compliance on these issues within the legislative timeframes.

Yours Sincerely

hi, thanks for your help so far. i have obtained the info from my experian report that i applied for the mint card in April 2004. thanks.

maxdp

trini wrote: »

Thanks can I write back to them even if their letter states it is their final response?

Yes do and give them a copy of the form you are sending to the FOS just to keep them informed:D Am sure I am right in this but also am sure Marshallka will confirm or give advice. Good luck and thank you so much for your imput on the mortgage stuff.

Merry Christmas:D