The Woolwich - Payment Confirmation Letters

LXGB

I received a letter from The Woolwich yesterday confirming that they had received my mortgage payment for December. I thought this was a bit odd as it's never happened before. I phoned their call centre in India and was told that it was a new policy and they would be sending out a letter confirming receipt of every routine mortgage payment made from now on.

As I ported my old mortgage when I moved house with additional borrowing I have 2 mortgage products from The Woolwich, which means I got 2 letters. I told them I didn't really need 24 letters a year as well as an end of year statement for each of my 2 mortgages. They said it was policy now and couldn't be changed. I asked if it's because I pay by standing order and not DD, but they said that didn't make a difference.

Seems at odds with the global drive towards paperless billing and reducing printed material.

Anybody else getting these letters?

mathsmaster

I'm with the Woolwich but haven't had this and agree it seems totally bizarre. If I had to choose between them and you, I'd agree that it is something to do with the standing order. Mine is paid by D/D.

busybee100

Me too.

No letter (although I haven't seen our postman today ?) and I pay by DD.

Will let you know if it changes next week.

Bx

Joyful

Last year I paid by DD but kept the pyts high due to the low interest rate. When they recalculated a lower pyt at the end of the year I set up a Standing Order to overpay. I received a letter only for the overpayment.

LXGB

Thanks for the feedback, I'll see if it happens again next month. I've checked both of my mortgage accounts online and everything looks fine there. I suspect it is something to do with paying by SO instead of DD despite what the call centre said.

Cheers,

LXGB

mrke

Hi LXGB,

I overpay my Woolwich mortgage a small amount each week and have now received two letters. Previously I never received a letter for these over payments. The normal monthly DD payment however does not trigger a letter to be sent.

I also like you phoned them this morning to enquire why these are now sent and exactly the same message as you, I cannot cancel them and will therefore receive 52 letters a year that I do not want and there is no need for Woolwich/Barclays to send.

Strange world we live in....


Forgot to mention the letters are called: Payment Spread Notice

LXGB

Thanks mrke,

I don't overpay at all. It doesn't say Payment Spread Notice anywhere on the letter I got.

If I get another pair of letters next month, I'll call them again (when I'm in the right frame of mind to talk to the people in their call centre).

Premier_2

I received one of these notices today. 'Payment Spread Notice' is at top Left hand side.

Called the call centre and the person immediately knew what I was calling about before I even said. Suggests they've had quite a few calls regarding this.

Have been informed like the OP that this is a new process and simply confirms that they have received the standing order payment. Although that's not exactly what the content of the letter says - it implies to me thay didn't notice the payment was for this months mortgage payment and were going to apply it as a partial redemption.

According to the letter it says I'm going to get another too, advising me of the revised monthly payment due once they have processed the partial redemption.

So two extra letters per month after many years of not needing them? Pity I don't have an open fire to burn them on, at least if I did, they might be of some value this weather.

seikothrill

LXGB wrote: »

I received a letter from The Woolwich yesterday confirming that they had received my mortgage payment for December. I thought this was a bit odd as it's never happened before. I phoned their call centre in India and was told that it was a new policy and they would be sending out a letter confirming receipt of every routine mortgage payment made from now on.

Anybody else getting these letters?

I receive one of these letters every month. These letters relate to mortgage payments that are not paid by direct debit or standing order.

I pay my mortgage as and when I get paid between the 16th and 27th of each month by (free) bank transfer from my current account (not Barclays)

mrke

Popped into local Barclays branch, they think these might be to comply with updated FSA regulations?

They're not sure though.......

pezza72

I too rang today, as i have received 2 of these now.

It definitely appears to be Standing Order payments, as the guy asked me if I paid by Standing Order. He said it is now an FSA legal requirement for people who do not pay by Direct Debit to confirm all payments.

Unfortunately, i will receive one of these every month for the rest of my mortgage term, which is about 25 years!

Hopefully they will sort out some kind of notification by email, as this just seems to be a complete waste of time and money, at an era when we are supposed to be going paperless!

When we have bank accounts/statements and most people now have the internet to check these things, why are the FSA enforcing what seems to be a pointless regulation?? :mad: