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

alexlyne

lvm wrote: »

I think the comments people are making about "they cannot just put the money into mortgage - have to give you it in cash" are really interesting.

I don't disagree at all but it's evident that Halifax don't seem to have admitted any fault but just refer to the "potential confusion" so they're not saying "sorry, we made a mistake, here's your money back" - it is just a goodwill payment.

Obviously they will write to everyone confirming they've put money onto mortgage account - can't wait to hear the stories of those people who do decide to take it a little further and demand the cash.

I wait in anticipation...

Or for the people who actively try to refuse the goodwill payment in any form and then try to sue HBOS for even more!

georgia757

My original mortgage was set up with HBOS but my actual mortgage is with the Bank of Scotland, does this apply to me?

crispy_chris

The BOS of HBOS stands for Bank of Scotland, so yes it does.

payless

Its only those mortgages branded HALIFAX , not BoS, IF , BM, TMB ( all were are part of HBOS )

georgia757

Thanks, I wasn't too sure so I checked my mortgage paperwork last night but couldn't find any reference to the 2% as mentioned.

crux

Mortgage of 180k taken out on Jan 2007, Fixed for two years, so went onto Standard Variable Feb 2009 and been paying 3.5% ever since.

I'm not going hold my breath or spend the money, because I'll only believe it when I see a letter, but I 'could' be in for quite an unexpected bonus. To be honest I never realised we were paying over the odd's anyway so 'if' we get something back, it will feel like a tax refund

LDJ2009

July 2007 took out a £162k mortgage on 3 year fixed and have been on SVR since October 2010 so hopefully i'll get something.

More than happy if it comes off the mortgage balance as we're in arrears at the moment (approved repayment plan) so even if i get the £250, that's a bonus

If anyone can give me an idea of what paperwork i need to dig out for the T&C's, i have all of my mortgage paperwork together so i can see what i have and scan and upload it.

rich189

My original mortgage offer was within the qualifiying times for a payout but as the purchase was quite strung out I received numerous other offers after the qualifying date until we completed. I'm guessing this rules me out of a payment?

morgaln

curlygirl1971 wrote: »

Aaah - I'd not read the article since this lunchtime and it must have been updated. So thats good to know - thanks

PammyJ74....gutted for you! I Know how hard you work at reducing your mortgage

I've checked all my paperwork tonight - As I was an existing Halifax Mortgage customer whose rate was coming to an end, I have a 'Product Transfer offer' dated December 05 - am not sure if this will be treated in the same way as a Mortgage Offer. It does say that the mortgage (I was being offered) "is governed by the mortgage conditions we have sent (the new mortgage conditions) instead of the mortgage conditions that currently apply (the old mortgage conditions)". The 'new' conditions talk about the Cap but it does say "we can change the 2% limit, but before we do, we will give 30 days notice to customers on SVR..."

I still had the mortgage at Jan 09 and from April 09 I've been on SVR.

I have two options. I can calmly wait and see. Or I can obsess and fluctuate between giddy and despairing for the next few weeks until letters are sent out

I'm in the same position as you, had a 'product transfer offer' in 2006 for a 3 year tracker mortgage. I rang the Halifax helpline to see if it relevant to my mortgage, to be told that as my mortgage was originally taken out in 1996 then I would revert to the old mortgage conditions. I checked the wording again and rang back explaining that my new offer stated that I would now revert to the new terms and conditions at the end of the tracker. The lady went off and checked again and admitted that she had got it wrong and that my case would be looked at.

I would suggest that if anyone has an old Halifax mortgage and changed anything within the timescales that have been mentioned then make a call (I wonder if Halifax are hoping that as all the information being given out is relating to NEW mortgages that they hope that those who altered their mortgage could be left out)!

traceye

hi im a bit confused.
Took a 5 year fixed rate mortgage in Nov 2004. It finished in Mar 2010. Think I paid just 1 month in Mar10 (or possibly 0) on the SVR before it got moved to another bank. Had to pay a the fee to move mortgages (even tho wasnt during the fixed term period)

If i was never on the SVR, will i not get anything ?

What if i was only on the SVR for one month ?

Hope someone can help
:money: