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

Joebloggs_2

Sorry I'm confused and hope someone can keep me right.

We took a tracker mortgage out with Abbey in 2006 and when it ran out in 2009 they transferred it onto the SVR. This meant that the mortgage almost doubled in price.

We weren't informed about any rise in the Cap in 2008 and I telephoned to complain at the high jump in price in 2009. Santander assured me that the SVR was the best available option at that time and it was just down to the market.

Our mortgage payments have now almost trebled and we are still on the SVR.

I received a letter today from Santander which states that they think they did everything correctly and customers would not have been disadvantaged.

I believed at the time that they had misled us and it has rankled me since that they enforced a huge jump which they didn't explain when we took the mortgage out. The rise in the Cap explains a lot.

almond

speclet wrote: »

That absolutely makes sense to me TwoStepsForward. I'm off to CAB tomorrow - not sure if anyone in my local branch is up on contract law but I will see what I can find out. There is a very strong argument starting to build here to support our disappointment! I am not keen to send in my questionnaire till we get some advice. There is a lot of money and a lot of people involved in this issue. Is there a way to find out if there is a contract lawyer in the house/forum?

hi
will you report back I did my form sunday and was going to post today but think I will hang on till tomorrow, wonder if anybody on another board my be up on contract law

almond

TheMightySwordfish wrote: »

Is it possible for a recap of what that question was. Didn't keep a copy of it....Doh!!

hi
answered your pm
the question 2 is the trick one
if you stated you would have considered remortgaging to another lender, or you would have done so sooner, what would have been your requirements, then we have boxes to tick and I reckon that's
were we could make a mistake, I pm my reply but will wait for person that is going to cab today

almond

who was going to cab and would their be kind enough to let us know what happened thanks

almond

TheMightySwordfish wrote: »

Should have proof read it:rotfl:

I mean more attention. The first letter is newsworthy for it's misleading manner and the questionnaire is suspicious in it's intent.

I may be wrong but I can't see Santander getting off lightly for this.

I hope you are right but feel we need somebody to fight this for us In a big way, I am sure I was affected but reading letter it made no sense and the questionnaire is a joke, but so pleased I have waited before sending it

almond

TheMightySwordfish wrote: »

I think if mine gets dismissed by Santander then I will take it to the ombudsman just for clarification from an independent party.

I have no faith in ombudsman we are fighting them on behalf of action group , we were warned total waste of time

almond

speclet wrote: »

I went to CAB this morning. Unfortunately I do not have much to report as they were not qualified to advise on the specifics of the contract but they did say they thought that Santander should have alerted all customers to any change that may affect them now or in the future (and in my case in just 6 weeks from the date of the change). In other words they thought on the surface of it that we are justified in feeling very disgruntled. They gave me two numbers to call for further advice:

Citizens Advice consumer direct 08454 040506 (as this is a consumer issue and presumably we have some consumer rights not to be kept in the dark about these kind of changes)

Money Advice Service 03005005000

I would say the more of us call about this the more chance we have of it being registered as a major issue that needs addressing.
What about also the Financial Services Authority. If anyone does call would you let us know what happens, I have a child off school so thats the end of my fact finding mission for today!

I am starting work at 12 so will call tomorrow
thanks

almond

how do we contact martin, I don't have twitter, could we ask mods to do it?
I have emailed a mod and just a thought is watchdog on tv?

almond

Two_steps_forward... wrote: »

Martin is on telly tonight at 9pm BBC2 banging on about the banks and PPI!

His Twitter account is @martinslewis

I have sent a private message on facebook since I don't have a twitter account, doubt he will look but its worth a try

almond

I am going to send in my form with a few changed rang cab and got nowhere suggested taking legal advise, no reply from mods on here or martin lewis