MSE News: Halifax to repay £500m to 300,000 mortgage holders

darryl6574

Thanks for the info. I have written a letter to the complaints dept. I will post tomorrow recorded del. I have highlighted the fact that as far as I was aware the original rate stood as I do not have any correspondence saying otherwise. It looks like they are trying to pay as little as possible as in the letter they say I would of been aware as I have made a change to my mortgage for example " I have taken out a further advance or changed to a fixed rate after the closing period so my mortgage is on the new terms" but quite clearly I have not as my last activity was the 12/9/2007 as they have stated on the phone as well as on my paperwork!

mac2008

Update for those waiting!

Logging into online banking I noticed my mortgage balance dropped by nearly £2,400 - called up and Halifax confirmed a goodwill payment was applied over the weekend. The lady said they were sending out batches of letters at present, so if you're waiting, you should hear shortly.

For info, we took out a 2 year fixed rate in late December '06, and went onto SVR 1st Jan 2009 - meaning we were on the SVR for the entire period affected.

For what it's worth, I didn't really feel that we had been misled about the cap - I dug out the original key facts, which clearly stated it could vary and they'd give us notice if this happened - I assumed announcements online and in the press would have been sufficient. Certainly not complaining about the repayment though!

emmajayne1982

mac2008 wrote: »

Update for those waiting!

Logging into online banking I noticed my mortgage balance dropped by nearly £2,400 - called up and Halifax confirmed a goodwill payment was applied over the weekend. The lady said they were sending out batches of letters at present, so if you're waiting, you should hear shortly.

For info, we took out a 2 year fixed rate in late December '06, and went onto SVR 1st Jan 2009 - meaning we were on the SVR for the entire period affected.

For what it's worth, I didn't really feel that we had been misled about the cap - I dug out the original key facts, which clearly stated it could vary and they'd give us notice if this happened - I assumed announcements online and in the press would have been sufficient. Certainly not complaining about the repayment though!

Thanks for the info - I suppose you should be allowed to request this money as cash then from what other people have said :rotfl:

mac2008

emmajayne1982 wrote: »

Thanks for the info - I suppose you should be allowed to request this money as cash then from what other people have said :rotfl:

I'd much rather have a chunk off the mortgage - It was never money I expected and whilst I could think of lots of shiny things to spend it on, I'm happy not to be tempted

Having said that, I'll post back here with the letter contents when it arrives, and let you know if they offered me the option.

A_Star

I'm anxiously waiting to see if we receive this. I took out a mortgage in October 2006, In December 2007 we extended it when we moved. The first part of the mortgage remained on it's original rate and then reverted to SVR at the end of 2008 and the second part reverted to the SVR end of 2009.

What I can't figure out from all my paper work is whether we held 2 seperate mortgages with the differing terms and conditions or whether they gave us updated T&Cs when we extended the mortgage.

Does anyone know how the T&Cs usually work in this situation? Would it just have been one mortgage with two rates?

curlygirl1971

Checked mine and I've had a deduction :j

When all of this started I worked out what I would get if the Halifax chose to repay the difference between a 3.5% SVR and a 2.5% SVR on my mortgage and came to an amount - I have the workings scribbled down at home but I think the figure I got was around £863. This morning I've had a deduction of £850

I'm happy

For info I had a Halifax Mortgage and the rate came to an end late Dec 05, so I moved to another Halifax product and received a Product Transfer Offer dated December 2005. Therefore my mortgage T&C became the ones that have apparantly caused the confusion (Conditions 2004 2nd Ed). I went onto the SVR in April 2009. I have a relatively small mortgage and I was not locked in to the SVR.

dgl1001

Hi

When i first heard about this i put it in to the back if my mind thinking that at best I would receive a few hundred pounds. Checked my aco!!!! and been informed that I have received a good will gesture of £3375 - result

darryl6574

Having got to work this morning I have looked again at the facts and it turns out that part of my mortgage was on the SVR in September 2008 so this meant I was locked into it, although I do not have a letter they are telling me one was sent out. I then took advantage of the offer of coming off my other fixed deal wiith no penalties, looking at the reason why they were offering this for a 3 month period was to avoid having to pay me more than the £250.00 when I did come off the fixed deal. £250 is better than nothing and when I work out the money I have saved being on the SVR to a further 13 months of fixed the saving is approx £2400.00. I suppose I can't really complain!!!

art200380

£2,205.00 here...no letter yet but noticed account balance adjusted online and just called and they've confirmed it over the phone.

emmajayne1982

I was just wondering to those people who have checked online...did your online banking actually say 'goodwill' or did you just notice that the balance had gone down?
Unfortunately I don't know the exact amount I owe and when I log on it does not even have a list of transactions - just the total amount owning