Woolwich Mortgage Monthly Payments Wrong

alandbs

Our Standard Life Bank Mortgage was moved to Woolwich by Barclays and for the last two years their computer carries out an Annual Review and decides incorrectly that we have missed payments therefore have underpaid and increases our mortgage payment. The first year we got the problem corrected but this year they can't override it. After many problems and resorting to emailing the Chief Exec of Barclay's they admitted they had a problem which may be affecting mortgages moved from both Standard Life Bank and ING Bank. I believe that this is a massive problem affecting up to 114,000 mortgages. Has anyone else had the same problem? :mad:

aliasojo

My ING mortgage recently moved over to Barclays. I got a letter last month confirming how much I'd overpaid but this month they are stating my overpayment amount is now less, they also haven't added on the extra payments I made this month either and they seem to have deducted a normal monthly payment from the overpayment amount despite the normal monthly payment not even being due (by DD) for another 2 weeks.

The csa has no clue what's going on but he can see on his screen my mortgage is up to date with no missed payments but the overpayment amount is less than it should be. He had to refer it to the 'back room' dept who will look into it all.

I'm already suspecting I will be hit with the same issue you have. If it wasn't for the low tracker rate I have, I'd be away from them like a shot.

I was unsure as to whether to keep my overpayments going but all this has just made my mind up. The small amount I overpay each month will be getting put aside in a bank account instead, then applied once a year as a lump sum. I trust my accounting more than theirs!

ZibbyBusyBee

My repayment tracker mortgage has recently transferred to woolwich from Barclays after they bought ING.
My concern is that the overpayments I have made this year are not shown on the annual statement they just sent. The overpayment balance (pre-payment reserve) is also not shown when I log in to their online system. This information was always clear with ING.
I called them today and after waiting on hold for 20mins had it confirmed that my expected overpayment balance was on the account. I was then told it had been applied and paid off against my mortgage and my monthly payments reduced. I pointed out that the information I received before the switch stated that overpayment balances would be maintained and these reserves would never be used to pay off your capital loan unless you specifically requested this. After a chat to his supervisor the customer service rep then stated he had been wrong, the balance is still there. He said he would send me a letter confirming the balance and indicated that it was normal that the overpayment reserve balance is not shown on the statement or online.
Can this be right? Can Barclays have some of our money without having to include in our annual statement that they have it?!? How can I be sure how they have applied the money if they don't seem to know?! Can other Barclays mortgage holders see their overpayment reserve on their statement? Why would my monthly payment have changed when interest rates have not changed since I took out the mortgage and I have always used any previous overpayment to reduce my term not reduce my payments?