Nationwide Mortgage arrears help please

terrie1

Hi

I currently have a tracker mortgage with the Nationwide, last week I received a letter from them telling me I was in arrears on my repayments. This was a total suprise for me, I rang my bank and they said that my mortgage payments had been met for the last six months. When I called the nationwide re this they informed me that the payment was £60 from June 2007!!!
Apparently they have just picked up on a computer error and are now sending letters out, two years later!! The sixty pounds is a monthly payment for £10k which we extended our mortgage by in 2006. The fact that the money hadn't been taken was a computer error on their behalf too!! (I realise I should have noticed that it hadn't left my account but the other payment did leave so I didn't!!)
I have been informed by them that they want the money immediately and to add insult to injury they have been adding £20 per month for two years because my account was in arrears. Plus my Credit rating has been affected for two years too!!
Not once in the letters telling me I was in arrears did they tell me by how much, the date of the missed payment or that it was entirely their fault anyway!!
Today I get a letter telling me the arrears is £80 when they originally told me sixty!!
What a shambles!!!:mad:
I just want to know where I stand really, especially with my credit score!!
Our mortgage is up for renewal at the end of this month and I am a bit wary of staying with the Nationwide now!!

Tx

_Andy_

Have you made a formal complaint?

TEDDYRUKSPIN

(1) Don't you check your direct debits and bank statements? In the banks/building societies point of view, this is ridiculous. Too many people try this on. So I do understand what Nationwide are doing.

(2) Some... some... do forget. But....... it means you have spent the money. It is correct that Nationwide should actually for you to fullfil their agreement and pay back the money.

(3) Only way now is for you to send a complaint letter stating what you want out of this. And........... asking them to remove the bad credit markers.

PS. No one can help you except yourself. Write in. Vent your anger. Put the words complaint. State your story as above. Finally write what you want such as refinancing to pay this off as you don't have the money, not to pay the additional £20 as it was not your fault and finally to remove the black markers on the credit report.

dunstonh

Like Teddyrukspin above, I feel some of this is partly you fault. Why didnt you query it when the monthly payment for the further advance didnt start? Were you hoping to get away with it? They made a pretty major mistake but you must have noticed it earlier.

Realistically, you would expect them to resolve it as follows:
1 - make sure the arrears are not included on your credit file.
2 - re-key the advance to either extend it a couple of years to keep the same payment level or increase the payment but keep the original term or to create another advance for the amount of the arrears and put them as a new mortgage chunk over an agreed period (you may want to clear them quicker than the original loan).
3 - expect an apology from them and a goodwill gesture of around £250-£300 for the mistake.

You borrowed this money and are not financially worse off as you have had an extra £60pm in your bank. So, beyond putting it right and a goodwill gesture, you are not really entitled to anything else.

terrie1

Hi

Thanks for your replies
I didn't make myself clear, this hasn't been a sixty pound a month payment for two years. It was one payment of £60.
Yes I agree I should have noticed, I do check my statements, and have requested a copy of my statements for 2007 to double check. As it was two years ago I can't really explain why I didn't notice, I know that the other £400 payment was taken that month.
I wasn't trying to get away with anything, maybe if it was £60 a month for two years I could see where you are coming from, but this was a genuine mistake.
I just feel that the Nationwide should have informed me a long time before two years later, they have informed me that the mark was put on my credit score two years ago and that they have been adding a £20 charge every month for two years for this arrears(over £450) so surely I should have been sent letters too??
My main worry is my credit score, I just didn't understand whether this could be amended after the event. I am willing to pay anything I owe, and I'm not looking for any financial compensation!

Tx

dunstonh

I didn't make myself clear, this hasn't been a sixty pound a month payment for two years. It was one payment of £60.

ahh, that makes it more understandable on your part.

So, the same outcome is still required apart from instead of redoing the loan, you pay the £60 and they get rid of the arrears charges, any interest charged on those and make sure your credit file is clean.

AMILLIONDOLLARS

They really are scrapping the bottom of the barrel.

Are you saying that because they failed to take £60 from you two years ago, they have been charging you £20 charges every month for two year!! Its their fault, as everyone else has said write back and demand that they wipe your credit file and the charges levied against your account. Leaving you to pay the £60 owed.

AMD

terrie1

Hi

Yes they have been charging me £20 a month for two years for one £60 payment which they didn't take due to an error at their end!

Sorry my original message wasn't very clear!! Not with it today!! lol

Tx

mollypoppy

I have a fax number for Nationwide. All you need to do is address it either to the mortgage team or the chief executive up to you. The fax no is 01604 854611

beecher

Have you asked them why they haven't contacted you in the last 2 years over this? I take it they're saying it was because of a computer error? What do your mortgage statements for the last 2 years say - wouldn't they have to make the £20/month charge clear on them?

dunstonh

It should be straightforward. Keep the letter simple. Bullet point the problems and tell them what you want from them. Make sure you mark it as a formal complaint.

Do not waffle, do not write war and peace. The shorter and simplier the complaint, the better it is.