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

lisa21

Has anyone who had a further advance heard anything back yet? I called to ask why I hadn't received a response to my query from around 3 weeks ago and was told this was because it hadn't been logged properly :mad:
Very annoying. I now have to wait another couple of weeks for a response, as the 'helpline' could tell me nothing. I've been over my FA paperwork with a fine tooth comb and it definitely states that my mortgage conditions remained unchanged.

Leedsit

Phoned them again this morning, after being told our mortgage was not affected. I read the text directly off their site and we do fit the criteria in their words so no matter what we should get a letter. Was told that more mortgages than they anticipated were affected and all letters will be dispatched by the end of may. Head office have only just started going through mortgages of ex customers.

Fingers crossed, Lee.

suboo_2

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!!

Hi Booma Mitch!

Just wondered how you got on with this as I have EXACTLY the same wording as you on my further advance bumph. I had been patiently waiting all the way through April hoping a letter would come through but nothing so phoned Halifax on Saturday.... they said nothing on my account so probably not entitled to but they'd look into it. I can't wait any longer! Just wondered how you got on :beer:

Susieboo

booma_mitch

Hi
We got a standard letter back from the Halifax as a result of our complaint saying that we had taken a further advance and therefore gone onto the more recent terms. I called them and expressed my disappointment that they hadn't dealt with it properly and asked that it be looked at again. She said (after speaking to her manager) that I would need to go into branch to take a copy of the further advance offer for them to scan at the branch. I asked why they needed this as they had said they were getting a copy from archives, and she said the copy in archives must be different to what I had (???) and they needed to see the offer sent out.

I haven't been into branch yet to take the letter in so am no further on yet, but will definately be chasing this up! I was mad that they had made me wait 3 weeks for a reply and then gave a bog standard response and completely missed the point. I think they are just trying to make it difficult in the hope that we will give up. Oh well, onwards and upwards! lol

I will keep you informed

lisa21

booma_mitch wrote: »

Hi
We got a standard letter back from the Halifax as a result of our complaint saying that we had taken a further advance and therefore gone onto the more recent terms. I called them and expressed my disappointment that they hadn't dealt with it properly and asked that it be looked at again. She said (after speaking to her manager) that I would need to go into branch to take a copy of the further advance offer for them to scan at the branch. I asked why they needed this as they had said they were getting a copy from archives, and she said the copy in archives must be different to what I had (???) and they needed to see the offer sent out.

I haven't been into branch yet to take the letter in so am no further on yet, but will definately be chasing this up! I was mad that they had made me wait 3 weeks for a reply and then gave a bog standard response and completely missed the point. I think they are just trying to make it difficult in the hope that we will give up. Oh well, onwards and upwards! lol

I will keep you informed

That seems crazy! I imagine I'll get the same response as you then. I also have all my paperwork so I'll be chasing it up too. I will keep you posted on mine too!!

suboo_2

lisa21 wrote: »

That seems crazy! I imagine I'll get the same response as you then. I also have all my paperwork so I'll be chasing it up too. I will keep you posted on mine too!!

Hi both

Well that is really annoying waiting around for 3 weeks and then a standard response! I too wonder if they're just hoping you will give up. How on earth can their archive letters / agreements be different to what you've got?!! I'm sure soon after we got our letters they changed it but I am still confident we are within the eligible customers batch.

I actually sent off a letter today with a copy of my further advance offer which CLEARLY stated the Conditions of my existing mortgage would apply to my further borrowing. And also enclosed a copy of my original offer which said I would never go about 2% above Bank of England rate.

Good luck to you both - definitely find your paperwork and send it in (but make sure you KEEP the original!!!!) :j

JAYTOON

Hi
I've also spoken to the Halifax about the Further advance issue numerous times now,they keep telling me i'm not eligible because i automatically went on the new t&c's.They have sent me copies from archive which still state nothing about the terms changing at all.I spoke to them again and asked them to look on screen at the archive copy of my further advance and tell me where it stated my terms had changed.He fobbed me off with some rubbish and said he'd send me yet more copies of some terms and conditions that i'd allegedly signed.
Like the rest of you in similar circumstances i'm getting increasingly frustrated,but i won't let it lie.

suboo_2

Hi Jaytoon

Does it actually say in the wording for your further advance that the Conditions of your existing mortgage will also apply to your additional borrowing? I don't know how they can argue against that!!

Grrrrrrrrrrrrrrrrrrrrr!

alexlyne

Trying to figure this one through myself now, after speaking to halifax the other week and them confirming that no payments had been made to me.
details:

Mortgage offer in mid 2005, started 09/2005. It was a 5 year Fix. Therefore in 09/2010 came off the fix.
In Middle of 2009, we moved and took a further advance, and ported the old mortgage across with a year remaining.

So, in Jan 09, we were on the same product as we started with in 2005.
In 2010, we came off the fix and started paying 3.5% on the part of the mortgage under the initial fix.

I'm guessing that as part of the further advance, I may have unwittingly agreed to new T&Cs when porting the mortgage to the new house. Is this possible? Or could there be another reason?

Thanks

stick2000

I haven't yet received my letter but fit criterea so thought I'd give them a call - £1905 credited to my mortgage, and can ask for cheque payment instead - result! Apparently my letter is on it's way but there have been delays due to bank holidays.