Barclays/Woolwich Tracker Mortgage Interest Problem

moneysaving_addict_2

Sorry if this is going over old ground but I'm looking for advice re the openplan flexible account and backdating of linked accounts...

I switched to one of these mortgages in 2006 in order to combat the shortfall left by an endownment mortgage that i was mis-sold in the 1980's (Compensation received)

I went into Barclays in Jan to open a new account and was advised that ALL mine and my wifes other accounts including ISA's should be offset against the mortgage and would save a considerable amount against the morgage interest. The advisor also activated a complaint as he said I should have been told that this was possible.

4 Months later I have received a letter from the complaints dept stating that It was up to me to ask for the accounts to be linked!! And so they will not re-imburse me.
Obviously if I had known that this was possible, I would have done!

After all they are the financial "experts" aren't they?

chivers1977

moneysaving_addict wrote: »

Sorry if this is going over old ground but I'm looking for advice re the openplan flexible account and backdating of linked accounts...

I switched to one of these mortgages in 2006 in order to combat the shortfall left by an endownment mortgage that i was mis-sold in the 1980's (Compensation received)

I went into Barclays in Jan to open a new account and was advised that ALL mine and my wifes other accounts including ISA's should be offset against the mortgage and would save a considerable amount against the morgage interest. The advisor also activated a complaint as he said I should have been told that this was possible.

4 Months later I have received a letter from the complaints dept stating that It was up to me to ask for the accounts to be linked!! And so they will not re-imburse me.
Obviously if I had known that this was possible, I would have done!

After all they are the financial "experts" aren't they?

ask again.............

buddies

I have just complained about my mortgage being increased because 'woolwich' have taken a low repayment on my interest only mortgage. This has resulted in my mortgage increasing! The reason - the computer can not cope with thrapid decrease in bank rate (Tracker mortgage), therefore they take less each time than they should. Net result they add the difference to my motgage balance (Nov 08 £109781, April 09 £110 127. When I phoned I was told the reason it was increasing, but my reply of - therefore when it goes back up there could be a time when they pay me interest on the interest (because they are then not taking enough) was dismissed as 'not going to happen'.
I have had no warning of this!
Is there anyone else in this 'catch 22' place, or was there notification that I missed?