Halifax Consent To Lease Mortgage

highandwild

I've posted on this subject before but cannot find the post hence a new thread.

I have been presurised for over a year by the Halifax to sign up to a consent to lease (CTL) mortgage without having being provided with a KFI (Key Facts Illustration). They have now found out that their systems are not able to provide a KFI where the remaiing term of the mortgage is less then the three year fixed term of the CTL product. The branches have not been trained to cope with this situation but also did not report it to their mortgage department.

This has alreday been investigated by Eric Daniels a number of times and by Jeremy Blake who is the complaints manager for the executive and media customer relations side of the business without resolution.

I went into a Halifax Branch and set down in one of their offices until they got to the bottom of it and it worked.

They claim to have written to me and to have requested that the branch advise me that as it was not in my best interests to go onto a CTL morgtgage. I did not receive the letter and the branch did not contact me.

"Not being in the customers best interest" will always be the case with all customers. Going onto the CTL morgage meant a 400% increase in the amount that I would be paying the Halifax due to the £999 fee, the increase rate of interest and the additional 24 monthly repayments.

The FSA is going to be involved now. It is not so much tha fact that their systems could not cope but that they have taken over a year to realise what had happened.

This is appalling customer service and treatment and even more so when they know that I have ME and only rented my house out so that I could move to an area where I could get the hospital treatment I needed.

highandwild

[QUOTEthen why not just ask them to amend the term to 4 years - then all the necessary KFI documents would be issued?[/QUOTE]

They were not aware that they had to do this and then change the term of the mortgage back again after the KFI was produced.

Apparent a customer can call the Secure Collections Department and just increase the term of the mortgage witout giving any reason. This will reduce the monthly repayments.

I was also told that once the term of the mortgage is changed on the system then that commits me to the product even if the KFI has not been produced

The KFI they did produce was not appropriate, they have only now admitted that. If the brachces are producing inaccurate KFI's that form part of the contract then other cuctomers need to be aware of this.

Halifax are to contact all customers who have been sold this product without an accurate KFI to see if they were aware of all of the charges that they would have to pay. Customers will then have the option to return to a financial situation that existed before the CTL mortage period commenced.

I was also told that even if Halifax did not tell me about all of the charges up front that I would have to pay them.

Is'nt customer awareness one reason for this forum.