C&G strike again - Overpayment wrongly applied

karom

Hi

In August we made our final overpayment for the year (reached the 10% allowance) and was really annoyed to see that again (2nd time) C&G applied to reduce the monthly payment and not the term.

We have a tracker mortgage therefore the payment was going up in September.

No worry called C&G and asked for the problem to be corrected.

No letter. Called again on the 31st of Aug and there was no note on my account for the request let alone the request itself actionned.

Now this is going to be actionned however I just wonder how they are going to handle it. We should have paid 633 in Sept but paid only 615 since they decreased the monthly payment instead of the term.

I should receive a letter explaining all this and will post an update.

So frustrating!

Have a good Sunday... Thought I'd have a nag today :mad:

honey123

karom wrote:

Hi

In August we made our final overpayment for the year (reached the 10% allowance) and was really annoyed to see that again (2nd time) C&G applied to reduce the monthly payment and not the term.

We have a tracker mortgage therefore the payment was going up in September.

No worry called C&G and asked for the problem to be corrected.

No letter. Called again on the 31st of Aug and there was no note on my account for the request let alone the request itself actionned.

Now this is going to be actionned however I just wonder how they are going to handle it. We should have paid 633 in Sept but paid only 615 since they decreased the monthly payment instead of the term.

I should receive a letter explaining all this and will post an update.

So frustrating!

Have a good Sunday... Thought I'd have a nag today :mad:

Hi
I have a motgage with C&G and I did several overpayment in the past to decrease the term without any problem. I usually pay by check in ther local office and fill the form of overpayment and tick the box for decreasing the term. just wonder , how you did your overpayment? because some body told me that I can do it on line but i never tried because if i did it on line how i am going to let them know if i want to decrease the term or the monthly payments

karom

Hi

I did overpayment by post. I have enclosed the letter with the 2 options circling the one for decrease of term (and did strike out the other one). Must have been badly processed

It does look like the error rate in C&G is pretty high from my personal experience (2 overpayments wrongly processed, no action taken and record made for request to correct and in June arranged for an overpayment to be made electronically which they never processed - Did actually turn out that they change the rules and did not inform their staff :mad: ).

We've been with them for just over a year and I am not impressed by the customer services.

I do like the deal I have though and wouldn't change at present.

I am saving for next overpayment throughout this year so hopefully I will only have to make 1 or 2 max.

Cheers

tightfella

My mortgage is also with C&G - I've made regular overpayments, all in person in my local branch.
The central processing office have twice reduced monthly payments instead of the clearly requested option of reducing term, however a phonecall is all it took to make the adjustment.

I am still waiting for paper confirmation for receipt of my latest overpayment - the advisor I spoke with says they have had problems with the automatically generated letters when overpayments are applied.

I've called twice now to chase this up, still no letter, other than that they have been fine for me.

honey123

Hi
just still wondering if it is possible to do overpayment to C&G mortagage electronically. has one done it before

thanks

karom

honey123 wrote:

Hi
just still wondering if it is possible to do overpayment to C&G mortagage electronically. has one done it before

thanks

C&G is no longer taking the overpayment electronically (happened between March and July this year)

Regarding the current issue.
Called 31 st of Aug

Called again today and the error has still not been resolved.

honey123

Hi

send cheque with £8000 as overpayment for may C&G mortgage to reduce the mrotgage period and today I have recived letter from them to confirm that they have decreased my monthly payment:mad: . I don't know why they did that especially I have clearly fill the overpayment form and request to decrease the mortgage period. the other thing they mentioned in the letter is my overpayment of £7960.20 and not 8000, I have no penalty for any overpayment. any body know where is the £40 poung gone.