new mfw

chirpchirp

Today I have written a letter of complaint to the building society's chief executive.

I have outlined that they have calculated the interest for June incorrectly as they made an adjustment which was calculated using a different formula to the original calculation as outlined in the post above.

I also argued that as it was a whole month there was no need to calculate using one interest rate and then making an adjustment they should have just used the new interest rate.

I also pointed out that the amount their letter stated they had calculated the interest to be was different to the amount due in the statement which they sent to me.

I'll keep you posted to any response!

chirpchirp

Sold another book on greenmetropolis - all three books that have sold have been skills books from my training. I will receive £3 for each book, postage has cost me 76p per book making a total of £2.24 profit.

chirpchirp

A quick update and a few questions.

Mortgage company have been in contact today. They are offering me a number of different rates for my mortgage. However, I'm on a fixed rate tracker for the lifetime of the mortgage at .99 above BOE. All their offers are short term the longest being 5 years. I don't think I'll take any of their offers as they are all short term and I think they just want me off the lifetime tracker. Whilst the rates they are offering are semi reasonable whose to say that rates will be comparable or their offers comparable when the fixed rates or short term trackers end.

Regarding the interest rates being calculated differently I'm still awaiting a reply from the Chief Executive. I also Pm'd Martin and I got a reply:T Couldn't quite believe it, after all he must get so many messages! He says he'll get one of the team to check if it's normal practise etc.

setmefree2

chirpchirp wrote: »

Regarding the interest rates being calculated differently I'm still awaiting a reply from the Chief Executive. I also Pm'd Martin and I got a reply:T Couldn't quite believe it, after all he must get so many messages! He says he'll get one of the team to check if it's normal practise etc.

Martin Lewis is fab isn't he?! Well done you on being so tenacious :T:T

chirpchirp

Yes he's wonderful for putting together such a great site and actually believing in what he does. Nice to see a journalist who really does campaign!

chirpchirp

I've had a reply from my building society who claim the way they calculate the interest on months when there is a change is standard industry practise but as gesture of goodwill they have placed a credit of £20 on my account to take into account the £9.31 I believe I have lost and my time and cost of contacting them.

Queen-Bee_2

CC - I still don't understand what your BS has said, but well done on getting a £20 credit - especially if that reflects the time and cost of contacting them. If all companies did this, we'd all be a lot better off!!! :rotfl:
QB

dimbo61

Hi CC
Have just read all 9 pages of your diary and like others have said welcome to the MFW club.
You are making great progress in the debt reduction and building up of savings, BUT and this is the big but you need to sort out if your EX can get the overpayments out of your joint mortgage account!
Dont have more than £16K in cash ISA,s just in case you lose your job.
I guess your EX also wants to move on with his life and if he can get off the mortgage then he can buy a place of his own.
You have a great plan and I hope it works out for you.
Do you use quidco, cashback credit cards,( forget snoozing could damage your credit score).
I have a long term ( 5 years) fixed offset mortgage ( something for you to think about when you do get a mortgage in your name alone) which I overpay as much as possible and have my emergency funds in the offset account.

chirpchirp

Hi Dimbo

Thanks for reading. I've thought about cashback cards but I'd rather not use them as I know that I'm rubbish at getting round to paying them off. Things are so busy with 2 kids and a full time job that I'm not so good at dates. I could of course set up a DD to pay but then I'd have to set up another spreadsheet etc to keep an eye on how much is on the card. Perhaps when I'm a bit more organised.

Ex and I need to sign for overpayments to be paid out, checked this with building society that we would definitely need two signatures. My main concern is his overspending nature may affect my credit rating if the mortgage stays linked. At the moment I think his score is still ok and last time I checked mine everything was fine.

I stil need to get my head around quidco but I try not to buy things too much at the moment. I'll check it out again when the insurance renewals come around.

Offsets look interesting and my building society keeps offering me different fixed rate deals at the moment. I think my flexible mortgage is great at the moment as it's a tracker and allows whatever overpayment I want. Once interest rates begin moving I'll probably be looking to move and I'll definitely look at an offset!

chirpchirp

It's nearly Mother's Day. Does anyone know of a good MSE florist which can deliver around the country?