Barclays useless mortgage underwriters

exbarclaysstaff

I am a current barclays mortgage holder who was retired from the company due to ill health in may 2010. My ill health being, i suffered serious injuries when hit by a car.

The insurer for the guy responsible have helped me with maintaining my life by replacing my old salary to save further problems arising that those already caused by the accident by providing a monthly interim payment in lieu of final settlement.

Barclays agreed to port my mortgage with an a.i.p checking and agreeing affordability to move from a current home to a bigger property due the arrival of a child. The loan to value will be reducing from 70-75% down to nearer 60%. Reducing barclays risk.

The mortgage payments have always been met.

The mortgage adviser has been excellent but the incompetence of the underwriters and customer service team for underwriters is shocking.

In 3 weeks they have changed there minds 3 times on what supporting documents they want. They have taken 5 days to confirm they have the right docs to proceed. And on each occasion they ask for more details i have returned documents within 24 hours.

There call centre in tim buk too have told me twice my application has been approved only to realise they dont understand what they are reading or saying.

I have had zero correspondence initiated by them and am constantly chasing progress.

All in all they are useless, mis-leading, and have severly ruined the pride i had in 10 years of service working for them.

They now insist upon a letter guaranteeing a final settlement for my compensation, what planet are these fools on, this can not be guaranteed.

More so, my income is a lot more secure coming as it is than 90% of jobs in the uk at present.

Help!!!!!!!

exbarclaysstaff

I should add to this, i called barclays before putting my property on the market or making an offer on the one i wish to purchase. I was given an agreement in principle subject to supplying certain documents. I have done as they asked, as well as proceed with a sale and purchase and the associated costs, i risk losing a hell of a lot now thanks to there indecisiveness and incompetence

exbarclaysstaff

In summary, 15 years customer, 10 years employee, 60% loan to value, no increased borrowing, income all verified and sufficient.

And still they want more

betmunch

Sorry to hear the trouble they are putting you through, I have one question for you if you dont mind:

Do you have a particularly good rate with them currently?

exbarclaysstaff

Thanks for the message. I am tied into a fixed rate at 6.19% until oct 2011, the redemption penalty is £4k if pay off early. I know theres better rates about, so if anyone can help with my situation please do.

GMS

Better rates around but if I have read this right you have no regular employed income and would have to pay to get out of current deal.

If your retirement private pension is sufficient to cover affordability then this is a different story.

Problem you have now is with porting you need to match current lending criteria which you may fall short of.

Similar situations will arise in the future with self cert clients who have never missed payments and A1 credit ratings not meeting the criteria at the time.

Would the insurance payout be sufficient to redeem the mortgage? If so would you not stay where you are until this is all finalised and move afterwards?