Standard Life Mortgage Migration to Barclays

aaccandy

Has anybody else been shocked by this supposedly "no changes to your terms & conditions" migration? I have been allocated a mortgage with an associated current account along with all paraphenalia of a cheque book, Pin number et al. When I rang to tell barclays that I did not want the account I was told it was part of the package and even I destroyed all the cheques etc. I could not close the account and reduce my mortgage charges.
In addition when asked how I could access my motgage statement via the internet as I could under Standard life I was told that this facility was not available at the moment.
I am sure there thousands of customers like me who feel they have hoodwinked by Barclays, so is there a possible of redress?

dlewis

Barclays phone operators are poorly trained and dont know how their mortgages work!

Reviewed Balance information so far recieved it appears that;

The interest on the mortgage and the benefit on the offset are calculated daily and are sumed up at the end of month and applied to the account on the first of the month.

This means the account balance goes up on the first of the month and you are charged interest on a higher balance until the monthly payment is recieved.

The day the payment is recieved is set by when you took the mortgage with Standard Life, so if you were luck enough to take your mortgage on the first the mortgage will be calculated as per Standard life, but if it is not. Barclays are charging you interest at a higher balance, between the first and the day the payment is recieved. This means the interest will be more over the life of the mortgage.

Thrugelmir

dlewis wrote: »

The day the payment is recieved is set by when you took the mortgage with Standard Life, so if you were luck enough to take your mortgage on the first the mortgage will be calculated as per Standard life, but if it is not. Barclays are charging you interest at a higher balance, between the first and the day the payment is recieved. This means the interest will be more over the life of the mortgage.

There is nothing to stop you from cancelling the direct debit and paying by standing order. Thereby controlling the date of the payment.

dlewis

The balance of mortgage and offset payments can be seen, the monthly overpayment is not visible on internet.

Thrugelmir

aaccandy wrote: »

I am sure there thousands of customers like me who feel they have hoodwinked by Barclays, so is there a possible of redress?

Barclays have done nothing illegal. All they have done is merge SL's mortgage book into their own. If you feel strongly enough about the issue. Then remortgage to another lender that provides the services that meet your specific needs and requirements. As a customer voting with your feet is sometimes the only available option.

Sapphire

Thrugelmir wrote: »

Barclays have done nothing illegal. All they have done is merge SL's mortgage book into their own. If you feel strongly enough about the issue. Then remortgage to another lender that provides the services that meet your specific needs and requirements. As a customer voting with your feet is sometimes the only available option.

I too am very annoyed about the change to my mortgage account. I have only a few months left to complete the mortgage so do not want to take out yet another mortgage on a small sum.

I definitely did not want a Barclays current account, card, cheque book and pin number, and this is not something Barclays should be foisting onto customers without their approval.

I suppose providing all these extra current accounts to people who do not want them will enable Hester to say how well Barclays is doing and help him and others at the 'top' level of Barclays claim bonuses.

:mad:

Thrugelmir

Sapphire wrote: »

I suppose providing all these extra current accounts to people who do not want them will enable Hester to say how well Barclays is doing and help him and others at the 'top' level of Barclays claim bonuses.

:mad:

Hester is the boss of RBS.

Bob Diamond resigned and a new CEO has yet to be appointed.

Sapphire

Thrugelmir wrote: »

Hester is the boss of RBS.

Bob Diamond resigned and a new CEO has yet to be appointed.

Thank you for pointing out my error. I'll change that to 'currently nameless executives' – though I could think of many uncomplimentary descriptions.

I feel like complaining to the Financial Ombudsman. I simply do not need this hassle. :mad:

Sapphire

Right: I phoned the Barclays complaints number (0800 282 390, so free in the UK). Barclays of course said opening a current account with all the paraphenalia was a condition of the mortgage deal (in my view it should not be if one is migrating from SL and the conditions pertaining to the agreement with SL should apply).

Barclays did, however, say they would cancel the cheque book and debit card, and that the account would be closed once I had paid off the mortgage (in a few months time).

I'm afraid I gave the poor guy at the other end a bit of an earful – he was actually very helpful.

Barclays also said that customers in my position could still check the Standard Life site for information on how much has been paid off. They will eventually be sending out details on how to do this on the Woolwich/Barclays site.

bigadaj

Think you need to move to ton bridge wells, where you can be suitably disgusted.