Halifax brick wall

tard

Hi All,
(newbie)
I am hoping that some kind person can advise me on the best course of action when dealing with The Halifax. I'll explain best I can.

Got small endowment mortgage(1987) and small repayment mortgage(2004).
2004 received letter about endowment shortfall. Went to Fax branch and instructed them to reduce the endowment to cover shortfall.
The shortfall was placed on the repayment mortgage.

Nov 2012 endowment matured so paid Fax - done and dusted...
Received new mortgage statement for the remaining repayment mortgage but on this statement was the shortfall from 2004 STILL as a interest only amount.

So basically they had not implemented my instruction from 2004.

Any ideas on how to sort this out?

Thanks
(re) Tard

amnblog

Are you saying the monthly payments never went up and you never noticed that your balances were not dropping on your annual statement?

What do you have it writing that proves your instruction from 2004?

tard

thanks for quick reply.
the repayments did change but I presumed that was because of the instruction. on the statements the endowment mortgage dropped to the correct amount (minus the shortfall)

Yes. we have a copy of the 2004 letter instructing them.

amnblog

Tricky... if that element that should have been on repayment has been on interest only, the net effect is that you have paid a little more interest than you would have done otherwise.

If you take it up with Hfx they might offer to compensate you for this on the condition you make up the capital repayments for the 7 years.

I dont know the figures involved but from your wording the 'loss' might be quite small. Therefore you need to decide if you want to follow it up.

If so put a complaint into Halifax and give them a copy of the letter.

tard

thanks again. will get on the phone to them asap.

cheers