Mortgage problems with The Mortgage works

justice4people

SAMMYE wrote: »

Hi all,

My mortgage was transferred to "The Mortgage works" from Bank of Ireland officially last week on the 7th Dec.

I called them on the 7th to make and overpayment but was told if I paid more than £500 in a month I would be charged £5000, supposedly 5% of my mortgage (which is incorrect amount anyway) I explained that previously I could overpay 10% without penalty and as that is my agreement they would have to honour that. They said they would get someone to call me back.

Does anyone else think that this is appaling service Or am I overeacting? What would you do in my situation?

Cheers

Sam

No, you are not overacting-customer service is poor and subject to miscommunication (in my personal opinion).

My experience with Nationwide is that they only allow 5% overpayment if you are on a fixed term deal and when this is up will allow you to make additional overpayments. However, you are correct that by reducing our overpayment sum again is changing our Ts and Cs- not what we signed up for.

Please contact the below as we need to raise objection collectively as fighting this is solo will not deliver the results we expect.

Hunt to find account holders of BOI transferred to TMW.

If you like me are affected please contact:
Mortgage hike to hurt 14,000 homeowners with the Bank of Ireland



Money's mortgages editor Simon Lambert is investigating this issue further. Please email him at [EMAIL="editor@thisismoney.co.uk"]editor@thisismoney.co.uk[/EMAIL], marking Bank of Ireland and Simon Lambert in the subject line.


Please reply as we need as much support on this as possible. We only have a couple of months to raise full objection on this matter with TWM.