MSE News: Thousands of Santander mortgage holders could get payouts after blunder

me03

when I say new deal, I just mean either a new fixed rate for a certain period of time or something similar like trackers etc - not changing our mortgage altogether.

Although surely at the point in which your mortgage term ends ie 5 year fixed rate is over then you are free to look elsewhere including other companies for a cheaper option.

We have been with Santander from our first home and have renewed the deals as and when needed. (After shopping around of course!)

Having looked into the variable part of my mortgage some more it states on my mortgage statement that there is no ERC for this part, only the fixed part.

Therefore I could have surely negotiated this part at any time - I wonder why they have said I can have a questionnaire then?
And why when I phoned up and requested part 2 become part of 1, I was told no?

Good grief my head is spinning lol!

mac24

me03 wrote: »

when I say new deal, I just mean either a new fixed rate for a certain period of time or something similar like trackers etc - not changing our mortgage altogether.

Although surely at the point in which your mortgage term ends ie 5 year fixed rate is over then you are free to look elsewhere including other companies for a cheaper option.

We have been with Santander from our first home and have renewed the deals as and when needed. (After shopping around of course!)

Having looked into the variable part of my mortgage some more it states on my mortgage statement that there is no ERC for this part, only the fixed part.

Therefore I could have surely negotiated this part at any time - I wonder why they have said I can have a questionnaire then?
And why when I phoned up and requested part 2 become part of 1, I was told no?

Good grief my head is spinning lol!

So hold on.Are you now saying that you were not tied to any SVR after your initial rate finished?

This is where the whole thing is getting confused.Some have said that there was a deal offered where by you had to stay tied to the SVR after your initial rate finished. But I certainly haven't heard of such a deal and was hoping you were going to be the one to say there was such one.

almond

well my head is spinning from this lot, sorry not been around mother has a leak in her gas cooker, I will have a read of my docs tomorrow

Phill_-_Liverpool

Two_steps_forward... wrote: »

It looks like the letters with the higher reference numbers, (up to M027), are likely to be viewed by Santander as the ones who's recipients are likely to have the easiest to validate claims, ie. those on deals with a mortgage rate tied to SVR.


I'm guessing that my lowly M005 claim looks unlikely to be sucessful??

Phill_-_Liverpool

Two_steps_forward... wrote: »

Have a heart! Ours is M001.

Don't panic! I don't think anyone has got anywhere near the bottom of this yet!

Perhaps you could let Swordy know what kind of mortgage you have/had? He is taking notes.

If i'm honest i cant remember, all i know was £60k was at 1 rate and £21500 at another.

first things first i suppose and wait for the questionnaire

almond

got my mortgage info out
this was dated nov 06 , I must have got a new fixed
4 description of the mortgage
1 £15000 abbeys svr currently 6.50% (svr1)
2 £55000 the following product has been transferred from your previous mortgage. it goes on to say about old mortgage and variable rate which is 0.10% below the bank rate. I think the rest applies to the old mortgage
so to me its clear my second mortgage is svr

TheMightySwordfish

Interesting almond.
Any idea what the status of these were by nov-dec 2008. I think starting one of yours on the svr seems a bit "odd". Don't mind me, thinking aloud.

me03

mac24 wrote: »

So hold on.Are you now saying that you were not tied to any SVR after your initial rate finished?

This is where the whole thing is getting confused.Some have said that there was a deal offered where by you had to stay tied to the SVR after your initial rate finished. But I certainly haven't heard of such a deal and was hoping you were going to be the one to say there was such one.

Hi Mac24

I'm not sure if I was tied into it or not - I really did believe that I was (due to asking for it to become a 1 part mortgage and being refused and all letter correspondence stating that my mortgage renewal was 2010 - that means that I actually stayed on a part variable rate for 8 years when clearly the rates were shocking at times :eek:) although as my mortgage statement states no ERC for the variable then maybe I wasnt.

I'm now wondering if I should ring them just to clarify this as maybe when I spoke to the Santander man on the phone he confused himself just as much as he confused me! :rotfl:

I will let you know if they say I was infact tied in.

Thanks

almond

TheMightySwordfish wrote: »

Interesting almond.
Any idea what the status of these were by nov-dec 2008. I think starting one of yours on the svr seems a bit "odd". Don't mind me, thinking aloud.

I need to think out loud

took out fixed mortgage 30/10/03
think 3 years
took out extra money 15k svr may 2006 part 1 svr
below is part 2
needed to renew mortgage deal 17/11/06 key facts
doc, but I think it took about a month to set up paperwork
fixed for 5 years
came off fixed about march last year , need to find old statements when payments dropped
does that help?
it says on 10 erc there are no erc on part 1 of your mortgage (svr) 15k bit

TheMightySwordfish

Kinda does, yes. A few months before the end of your fixed deal you got a "top up" and that was @ the svr (not sure of the circumstances why). When your fixed rate ended you got another fixed rate. From the sounds of it you still have "2 mortgages" Were you unable to combine the two in the new deal?