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

Magicboo

Just wanted to say Thank you to the people on here. I recieved my letter a week or so ago and until then had no idea about the cap problem. Now I am getting a cheque for £1905 posted to me, which, if it wasn't for this board, I wouldn't know I was entitled to. so
THANK YOU! x

beecher2

dbone79033 wrote: »

Has anybody who is no longer with the halifax for their mortgage received a goodwill payment letter??

I've left them, though I might have qualified for a very small payment, but have heard nothing.

alibeano

beecher2 wrote: »

I've left them, though I might have qualified for a very small payment, but have heard nothing.

No longer with Halifax but would have been on SVR for a couple of months so should be due something. Haven't heard from them as yet :-(

AngelaUK

I have also left and I seem to fit the criteria for a payment, I rang them earlier this month to make sure they have my correct address on file, the lady said that the letters for people who have left will go out at the end of the month, really hoping I get something!

jamieaaron

hi

Just wandering if anyone knows if i would qualify for a payout i took my mortage out with the halifax in 2005 it was only a 3 year fixed rate mortage but moved to a differant lender when it came to an end in 2008:mad:

Pete111

I'm in the same boat as several other recent posters. No letter as yet..

Left Halifax in Dec 2009 but understand I do qualify for up to a £600 rebate. I will wait until early May and then get stroppy - Thanks to AngelaUK for the timetable re leavers

Pete111

jamieaaron wrote: »

hi

Just wandering if anyone knows if i would qualify for a payout i took my mortage out with the halifax in 2005 it was only a 3 year fixed rate mortage but moved to a differant lender when it came to an end in 2008:mad:

Unlikely - see the MSE article and this section in particular

Which customers are affected?
Halifax customers sent a mortgage offer between 20 September 2004 and 16 September 2007 who still held that mortgage in January 2009 are in line for payments.

mau408

Pete111 wrote: »

I'm in the same boat as several other recent posters. No letter as yet..

Left Halifax in Dec 2009 but understand I do qualify for up to a £600 rebate. I will wait until early May and then get stroppy - Thanks to AngelaUK for the timetable re leavers

Aye, I'm guessing typically that I'll be one of those turning up on halifax's door in May to ask for compensation. Can I also charge them a months worth of interest? How can they have set aside £500m and then not know all the customers who are due compensation and don't give it to them. If THEIR records aren't upto scratch why do they expect us to keep every little scrap of paper to do with our mortgage offers sent to us? Thankfully I trust no bank, building society or alike and keep all receipts and letters as such. How many people don't?

danbob_2

Took out mortgage dec 2005 2yr fix.
Svr from dec 2007.
Am I entitled to anything.

martyp

Hi all,

Sorry there was so much to this thread to try and read though but I just came across this after getting my letter saying I was getting £880 for some mistake!
I phoned them and (maybe a question that has now been answered?) they told me over the phone I could actually get the money as a cheque within 14 days or they could open an account for me and transfer it into there.
The letter said my payments would be recalculated but I was told they would stay the same so it would be paying off more of the balance each month.
I am very tempted to have the £880 and use some for a holiday and put maybe £500 into my ISA. Would it make a huge difference to my mortgage if I left it in my mortgage account? I find it difficult calculating how much better off I might be if I left it in there:
Balance is £52000 approx with £257 a month repayment on 3.5% SVR.

Is anyone good at maths and possibly able to say if £880 off the capital of my mortgage would pay it off a lot quicker if paying the same amount each month?

Also, if it's of any interest to those asking 'am I eligible', my case is as follows:
Switched to fixed rate product in 2007, went to the 3.5% SVR in November 2009