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

pompeyfaith

Must say on this occasion hats off to halifax as they do seem to be taking swift action on this one unlike the PPI fiasco which took me 2.5 yrs to sort out with the FOS.

algorfa_2

Just found out I got £1200 credited to my account - result

curlygirl1971

I'm in two minds about this whole thing

1) Yes its absolutely great that we are getting a 1% 'refund' and they've gone ahead and done it and done it quickly - I'm as pleased as punch with mine and do think its a good thing that the Halifax has done this

2) I read the 'offending' terms back in April 09 when I went on the SVR and realised my payments were going to be more than I was expecting. It was clear to me - The Halifax could increase the SVR margin if they wanted (and they had) and that they didn't have to notify people who weren't already on the SVR at the time of the increase.

I thought it stank and it felt like they were just taking advantage of the false security of the low Base rate BUT it was there in the terms. I did feel there should have been better and individual notification.

However I guess when they put the SVR up I had the hope that once Base Rate started to rise then their SVR may return to 'normal'. I think this may prove to be a naive and vain hope - by making the goodwill payment and announcing the rise properly just before the Base rate looks set to start rising....I suspect they played a blinder. Base rate will go up (over a period of time) and they will be applying 3% not 2%......but they've properly notified us now.

rachelward876

Got my letter from halifax this morning stating a "goodwill payment" of £1400 had been paid into my mortgage account.

on one hand, goodwill or otherwise, i'm not going to grumble about £1400 off my mortgages

on the other hand, i was hoping it would be credited into my current account (since this is where is was taken from) and i was quite looking forward to going to ikea and ordering my new bedroom furniture

still, this might now put me into the "up to 80%" mortgage rate now and might make my payments smaller when i get round to sorting out another deal.........................

tallulah20

Hi,

I rang halifax ans stated that I wished for my goodwill payment to be paid to a different account - that was 2 days ago and I recv'd my cheque this morning!

I need the money in my cuurent account more than on my mortgage account - give them a bell, I was told it is automatically done to mortgage a/c and its up to mortgage a/c holders where it goes!

Bluespirit

I've only just seen this thread, and had no idea this was going on until I got home today to a letter from Halifax saying they were giving me a goodwill credit of £1260. Absolutely thrilled, as I've just been made redundant, we're moving this year, and getting married this year, so every little helps!

gadgets.loco

Have not received the letter yet, but did notice my mortgage balance dropping when I checked online. I called them up yesterday and they confirmed that I have received £3,050 of goodwill payment. I also requested to have this payment made to me by cheque which was not an issue, she said that it will take apprx up to 14 days for me to receive the cheque :j :j

JAYTOON

Hi
I've been on the SVR since Jan 09 until now with no tie in,but i also have further advances which are still on fixed rates which are tied in.Just wondered if anyone has received a substantial payment yet who also has further advances with their mortgage???

lvm

Hello,

Just a little query on those who seem to be able to get cheques. Can I ask if your current LTV is under 80%?

I phoned up to confirm my friends details and to ask if she could get a 1 month payment holiday which was declined because her LTV was still above 80% even with the goodwill payment (although their value of her home is £30k short of the valuation she had done!)

So, d'ya think they would just send her a cheque for the money instead? Would kinda help me out seen as I'm lending her cash for her new furniture!!

Just thinking they might have this 80% condition on the goodwill payments being sent by cheque too...!

Thanks x

puregeordie

Got a letter yesterday saying I would be recieving £10.00

Have I got the least amount here because looking at the rest of the windfalls are huge in comparison

Betta than nowt I suppose, but was expecting a bit more!!

FYI I got a mortage out in 2002 £58k
then I got a further advance of £10k in 2004
then another further advance of £10k in 2006

Then that was enough for me!!

Cheers.