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

hells030780

Can someone help me?????
I had a SVR mortgage with halfax in late 2007 cant quite remeber which month but it was late on in the year...... it was a 2 year deal... so in 2009 when the deal finished i just stayed on the halfax base rate, as this was and still is the cheapest option for me. Am i due a payment???? would be great if i was as i am on maternity leave and every penny helps!

jamie07971

I am so pleased that I got £3510 credited to my mortgage. Does anyone know if Halifax will provide a written table of their remortgage rates as when I called them up they gave me so many figures that when I got off the phone didn't have a clue what rate was for what!

stinka

Had a letter and received £250 good will payment from halifax.

Cant understand why as i've been on a 10 yr fixed since December 2004.

Do i qualify for anything else ? cant see how i got the £250 as i've not been on SVR yet.

Thanks

Tracey1973

hi im really confused about all this to be honest bit over my head!we took our mortgage out in 1994 havnt got a clue what rate we were on as we were young and 1st time buyers.we have a tiny mortgage but unsure how much we should receive back,we have received our goodwill letter stating this will credit the mortgage with £250....this isnt very much but unsure how to check if it is right.can anyone help with such little info???:o

MarkJames_2

senza7 wrote: »

Advice please , I took a mortgage with the halifax april 2006 5 years fixed runs out april 2011. I have not recieved any letters from halifax regarding my new mortgage payments etc , Until now I have recieved a letter on wed 6th april from halifax basically looks like a standard letter saying that there has been a misunderstanding with the mortgage offer I had recieved and will be 3 % not 2% above BOE dont know if anybody has recieved the same letter, and states as long as you get 30 days notice there can chage the svr,well mines runs out end of april so not given enough notice? I have rang the Halifax today who has told me there would have sent a letter to us with the new payments details and new rate, but couldnt tell me when said its computer generated which I have NEVER recieved and the FACT was i had to pay 3% he was very unhelpful , where do I go from here? ARGH!!!!

Hi,
What was the outcome of this? My mortgage has been on fixed rate for 5yrs and ends april 2011. We have been paying 5.29% which is well above the SVR

lisa21

booma_mitch wrote: »

It's a shame you don't know where your further advance stuff is, as it would have been interesting to compare wording. The lady at the Halifax didn't seem to want to believe that what I was saying was right, but that's fair enough without a copy of the document in front of her. It does make me wonder though how many others are affected by this wording as can't believe it was just my offer that had it on.

Good luck with them tomorrow, they will probably tell you that they can't get it from archives until the day after, so without the paperwork to hand you won't know for certain if the wording is the same in your offer but certainly worth a try.

I'm in the same position - 2 yr fixed rate mortgage taken out in May 2007, been on SVR since May 2009. We also took a further advance in July 2008. I've been through my Further Advance paperwork and it doesn't actually mention the mortgage at all - it only refers to the loan. I've phoned Halifax and the lady couldn't tell me anything, she couldn't even see what rate I'd been on for both products before going onto the SVR. I have also raised it as a complaint.

I can't see how they can say our mortgage terms changed when there is no mention of it in the paperwork

lisa21

booma_mitch wrote: »

Hi, I'm wondering if anybody can help me re possible goodwill payment.

I will start from the beginning. We received a mortgage offer for £75,000 on the 16 May 2007 on a 2 year fix repayment morgage over 15 years. On 25 June 2009 we received a further advance offer for a further £17,500. At the same time we changed the term of our mortgage to 25 years, although don't seem to have any paperwork in respect of that.

My understanding was that we would receive a goodwill payment in respect of the original morgage as the product had remained the same. The interest rate on the original morgage and the further advance is different as the further advance is still on a fixed rate.

I have looked at the Halifax website which claims:

9. If I took out my mortgage after being sent an offer between 20th September 2004 and 16th September 2007, why might I no longer be on the same mortgage conditions?
Because if you had a further advance or a product transfer since 16th September 2007, you will have moved on to the current mortgage conditions that do not include the Halifax SVR cap.

However, looking at my Further Advance Offer there is a paragraph which says:

Our mortgage condition and 'Information about your mortgage' booklets which apply to the existing mortgage will also apply to this additional borrowing.

I cannot see anywhere that it says that the terms of the existing mortgage have changed. We haven't yet received a letter and have just phoned up for a balance which although can't be certain appears to be as it would be without any goodwill payment.

sorry that was a bit longwinded but wanted to give the whole story. I can't see anywhere where the Halifax have shown that "you will have moved on to the current mortgage conditions that do not include the Halifax SVR cap". Fair enough in respect of further advance but for the existing mortgage I am still on the same product.

Any thoughts anyone?

Edit: have now spoken with the Halifax. They say that the contents of that paragraph are usually the other way round meaning that the existing loan conditions are replaced by the new. But clearly that was not the case on my offer. She couldn't get a copy of the offer from archive until tomorrow so will look at it then. They have logged it and will write to us within a couple of weeks. So not getting my hopes up but I will take this one further if I need to, as if they are paying out for one set of ambiguous terms and conditions then I can't see how they can get away with it for a second set!!

My documents say exactly the same

bigstevex

Has anyone managed to question the amount received and had it corrected? We've received £250 goodwill payment but I worked out we were due closer to £1000!

PureExile

Would really appreciate a little advice from those who understand these things better than me.

We've had a letter from Halifax stating that we are getting a £3.5K goodwill payment. This is being credited to our mortgage account but it seems from looking at the FAQs that we could also get this paid into another account.

What I'm not sure of is what benefits us more in the long term. We have other debts that it would be wonderful to clear - but if the longer term benefits are greater if we have the money credited to our mortgage a/c then we'll leave it there. We'll keep paying the other bits and bobs off as we are at present.

Any advice greatly appreciated.

Thanks

tjnutman

Got a letter this week saying that I would get £250. I went onto SVR on Jan 09 so thought I would be entitled to full refund.

I rang them up and they said that I was only entitled to £250 quid because in Feb 2009 they sent out a letter stating I was moving onto the 3.5% rate and as they had informed me about this, they were only going to pay the difference of one month from Jan 2009 to Feb 2009.

Again very confusing, Halifax are really not very clear about who is getting which type of goodwill payment.

If anyone succeeds in challenging their payments can they post how they did it please.