Mortgage Free in Three Yrs

Trying_to_be_good

I've been moved from Woolwich to Barclays, but can't get access to my mortgage account online. So far they've given me £20 for waiting for nearly an hour on the phone whilst they decided I couldn't access on line.

I'm just working from my own spreadsheet of the balance, and as it's a tracker they should be sending lots of rate change reduction notices in the next year

02skn

Trying_to_be_good wrote: »

I've been moved from Woolwich to Barclays, but can't get access to my mortgage account online. So far they've given me £20 for waiting for nearly an hour on the phone whilst they decided I couldn't access on line.

I'm just working from my own spreadsheet of the balance, and as it's a tracker they should be sending lots of rate change reduction notices in the next year

They will not send you a lot of rate reduction notices this year. We have the same Tracker with the Barclays and they told me last week that you will only see a reduction on your payments once a year.For us this is September when they send your yearly statement out.

Trying_to_be_good

But they sent me a rate reduction notice (with the amount owing incorrect) for the 1 Jan rate reduction... Such a strange system that tells and sends everyone different information.

02skn

Trying_to_be_good wrote: »

But they sent me a rate reduction notice (with the amount owing incorrect) for the 1 Jan rate reduction... Such a strange system that tells and sends everyone different information.

I think the once a year review as they call it only applies to Tracker mortgages. I phoned them and they said if you recieve a statement once a year in September, that is when you will see the benefit of the rate decreases. Not exactly my idea of how a Tracker should work. Next week i will start looking at some new deals elsewhere. Sick of Barclays and their poor customer service. I must say phoning the customer support line drives me round the bend!

Trying_to_be_good

02skn wrote: »

I think the once a year review as they call it only applies to Tracker mortgages. I phoned them and they said if you recieve a statement once a year in September, that is when you will see the benefit of the rate decreases. Not exactly my idea of how a Tracker should work. Next week i will start looking at some new deals elsewhere. Sick of Barclays and their poor customer service. I must say phoning the customer support line drives me round the bend!

But mine's a tracker, too! It doesn't reduce immediately when the BoE reduce the rate, but from the 1st of the following month. And they sent me a rate reduction notice. Me thinks they are confused...

Mine's a lifetime tracker at 0.18% above Barclays Base, for info.

02skn

Trying_to_be_good wrote: »

But mine's a tracker, too! It doesn't reduce immediately when the BoE reduce the rate, but from the 1st of the following month. And they sent me a rate reduction notice. Me thinks they are confused...

Mine's a lifetime tracker at 0.18% above Barclays Base, for info.

Thats the same deal we are on. I have a funny feeling their right hand doesn't know what the left is doing. We made a £500 overpayment last Tuesday,after 3 phone calls to customer service this week it has still not come off our balance. The nice man in our local branch said it could take up to 6 days. 6 days for a cash transaction. I give up!

do_it_today!

02skn wrote: »

Thats the same deal we are on. I have a funny feeling their right hand doesn't know what the left is doing. We made a £500 overpayment last Tuesday,after 3 phone calls to customer service this week it has still not come off our balance. The nice man in our local branch said it could take up to 6 days. 6 days for a cash transaction. I give up!

I have had many conversations with barclays staff re upping my monthly DD some staff say it will be amended by the next month - others say the payment is fixed, cannot be altered and would have to make overpayments manually or by SO
I hated barclays and now I bank with them by default! :eek:

Trying_to_be_good

I gave up with the DD option with Woolwich/Barclays and now (over)pay by SO and they don't take a DD at all. MUCH easier. Will check the annual statement to see when it credited to the account, as it always comes out of my account on the 1st (I get paid on the last working day of the month). We'll all have to report back after the next rate cut!

farhad1965

Back after long absence from this thread!

My mortgage was £467k when we bought our £700k house in Aug 2006. Paid interest only till couple of months ago, but paid off £3,500 in December and £30,000 last week. On plan to pay another £13k by August 2008 and then £40k after that. The house is now valued around £800k.

My aim is to pay off the lot by Aug 2016 (10 years).

Trying_to_be_good

:smileyhea My partner has asked me to marry him! Hooray! :happyhear

:j :j :j I'm now the happiest MFW in the challenge.:j :j :j

In case you haven't guessed, I said YES!