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

stripee

Hi Somi
I wish I could help, but as you can tell from my previous post, I only really know what happened to me - we got a letter, we got some money, our mortgage balance went down. It does sound like your good will payment is smaller, but it perhaps depends on the time that mortgages were taken out, and when they were or weren't at certain rates. I know this is so vague as to be useless, but I always think it's nice to know someone's actually read your post. If I do hear or read anything, I'll be sure to let you know on here. It must really suck to be struggling to make payments. Money's really tight for us at the moment, but thankfully it hasn't quite got to the what bill shall we not pay stakes yet!
I hope you get a good resolution; have a read through all the posts on here, and you might find some tidbits to help. I'm sure at one point Martin had an article or mention of it in the tips, so they may be more stuctured information you can find on the site.
Good luck!

somi

lisa2621 wrote: »

Somi..

quote from Which website:

Halifax "will pay £250 to all customers locked into the SVR by charges. Customers who are not locked in will receive the difference between the amount of mortgage interest they have been charged since 1 January 2009 and what they would have paid if the interest rate had been capped at 2% above base rate."

Were you locked into the SVR by charges?

I am still waiting for my letter from HBOS. As i sold my flat last summer i will be one of the last to get my letter. I am hoping for the 1% refund but i no longer have my mortgage documents so i'm unable to check...

I am pursuing this again but I am not sure what locked into the SVR by charges means. Could you clarify pls.

somi

Just phone halifax today, spoke to the lady. she didnt gave much, i asked to speak to her manager but she said she is busy and took my number saying manager will call you later
How can I make my case for more than a £250 goodwill payment that i got to her. any advice much appreciated.

Thrugelmir

somi wrote: »

After feb 2009 we went onto a Halifax SVR and then at Dec 2009 or Jan 2010 remortgaged with Halifax to a discounted -0.50% base rate. We are still on it and this ends in Jan 2012.

Are your dates correct?

somi

Thrugelmir wrote: »

Are your dates correct?

yes they are.

somi

somi wrote: »

yes they are.

actually i beleive it was Dec 2009 that a new product was taken at -0.50 rate from halifax SVR. so we have been on 2.99% sonce dec 2009.

smitchy73

I've just received a letter today in regards to this, I didn't think it applied to us so not sure whats happening, don't know any figures or anything like that, so it's all a mystery at the moment!

GB350

I received a letter this morning from Halifax regarding this issue. I remortgaged with them in August 2008 and even with 50% ltv the best deal I could get on my 100k borrowing at that time was a 3yr 2mth fix at 5.89%. I have been kicking myself for the last 3yrs for taking this deal not forseeing rates were about to plummet. The ERC was a standard 3% for the 1st yr and 2% thereafter, meaning it would have been pointless to pay it off and grab a better deal when rates dropped significantly in early 2009. The letter states that: "We raised the cap from 2% to 3% on 31st October 2008" then subsequently, "Had we told you about the cap rise in the past, at that point in time you would have been entitled to fully repay your mortgage free of the early repayment charge within three months of receiving our notice". By my reckoning I could have grabbed a rate of around 4% in January 2009, meaning this has cost me somewhere in the region of 5k over the past 3 yrs.
Any ideas on how I can claw this back from them would be appreciated.......

smitchy73

GB350 wrote: »

I received a letter this morning from Halifax regarding this issue. I remortgaged with them in August 2008 and even with 50% ltv the best deal I could get on my 100k borrowing at that time was a 3yr 2mth fix at 5.89%. I have been kicking myself for the last 3yrs for taking this deal not forseeing rates were about to plummet. The ERC was a standard 3% for the 1st yr and 2% thereafter, meaning it would have been pointless to pay it off and grab a better deal when rates dropped significantly in early 2009. The letter states that: "We raised the cap from 2% to 3% on 31st October 2008" then subsequently, "Had we told you about the cap rise in the past, at that point in time you would have been entitled to fully repay your mortgage free of the early repayment charge within three months of receiving our notice". By my reckoning I could have grabbed a rate of around 4% in January 2009, meaning this has cost me somewhere in the region of 5k over the past 3 yrs.
Any ideas on how I can claw this back from them would be appreciated.......

From what I could understand of the letter they work all this out, but I suppose like the ppi, if you feel there are other circumstances like what you say you can go back to them and ask for what you say, I think this letter is the start of an automated process for us, but from the last few pages of the thread there were a few people who contested what they were owed.
For me I didn't even have a clue, I thought i'd have heard before now if this was for me I didn't even check to see if I was, terrible considering all the ppi stuff i've been involved in over the past few months. This will be a bonus.:D

Thrugelmir

GB350 wrote: »

By my reckoning I could have grabbed a rate of around 4% in January 2009, meaning this has cost me somewhere in the region of 5k over the past 3 yrs.

Hindsight unfortunately doesn't apply. You could have choosen to pay the ERC at any time and remortgaged if you wished.