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Mortgage mistake?
16hm
Posts: 31 Forumite
Hi again folks,
Im after some advice please.
As I am due to seek a re-mortgage on my house, I was reviewing my old paperwork which I have kept since I got my house 8 years ago through a 5 Year fixed deal through Northern Rock.
In 2007 I received a letter from NR telling me that they had made a mistake in their debiting of my account, and I had in fact been underpaying for some time leaving an under pay of around £2500. They admitted it was their mistake and to correct this they did the following:
1. Applied a credit to reduce the interest charges to the correct level had I paid the correct amount all along. (How good)
2. Transferred the £2500 to a seperate account with 0% with a £5.00 to pay with a 26 year term. This then showed on my statements as a mortgage with 2 parts.
I thought this was great and did nothing else about it.
In December 2009 I then stayed with NR but moved to a different fixed term mortgage. I thought that my interest fee part would simply carry over to the new mortgage. When I couldnt see the seperate parts listed on my mortgage I called the customer service team. They then told me that as part of the new product NR had simply written off that part and that I didnt need to worry about it.
The next time I thought anything of it was this weekend when I put my statements together to see that when I took out the new mortgage in 2009 what they actually did was take the 0% loan out of that account and put it into the main capital mortgage.
Obvioulsy I am not happy about this. They never told me that they would do this (the opposite in fact), there were no T+Cs ever given to me on the loan part.
I have now been paying more interest than I should have.
I also cant see the credit that they promised to apply in 2007 ever hitting my account.
I have today rang them and told them of my dissatisfaction and they have raised a complaint on my behalf and I should hear something in 8 weeks.
Does anyone have any ideas on what might be a sastisfactory outcome? Should I ask them to take £2xxx off the capital and put it into an 0% account as promised? Should I ask them to write it off? What about the extra interest that has accumalated?
Is it my fault for not noticing? Why did they lie to me?
Any advice woudl be appreciated. FYI I have all letters and statements ever sent to me from NR.
Im after some advice please.
As I am due to seek a re-mortgage on my house, I was reviewing my old paperwork which I have kept since I got my house 8 years ago through a 5 Year fixed deal through Northern Rock.
In 2007 I received a letter from NR telling me that they had made a mistake in their debiting of my account, and I had in fact been underpaying for some time leaving an under pay of around £2500. They admitted it was their mistake and to correct this they did the following:
1. Applied a credit to reduce the interest charges to the correct level had I paid the correct amount all along. (How good)
2. Transferred the £2500 to a seperate account with 0% with a £5.00 to pay with a 26 year term. This then showed on my statements as a mortgage with 2 parts.
I thought this was great and did nothing else about it.
In December 2009 I then stayed with NR but moved to a different fixed term mortgage. I thought that my interest fee part would simply carry over to the new mortgage. When I couldnt see the seperate parts listed on my mortgage I called the customer service team. They then told me that as part of the new product NR had simply written off that part and that I didnt need to worry about it.
The next time I thought anything of it was this weekend when I put my statements together to see that when I took out the new mortgage in 2009 what they actually did was take the 0% loan out of that account and put it into the main capital mortgage.
Obvioulsy I am not happy about this. They never told me that they would do this (the opposite in fact), there were no T+Cs ever given to me on the loan part.
I have now been paying more interest than I should have.
I also cant see the credit that they promised to apply in 2007 ever hitting my account.
I have today rang them and told them of my dissatisfaction and they have raised a complaint on my behalf and I should hear something in 8 weeks.
Does anyone have any ideas on what might be a sastisfactory outcome? Should I ask them to take £2xxx off the capital and put it into an 0% account as promised? Should I ask them to write it off? What about the extra interest that has accumalated?
Is it my fault for not noticing? Why did they lie to me?
Any advice woudl be appreciated. FYI I have all letters and statements ever sent to me from NR.
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