Halifax Making Life Difficult For Such an Easy Request!

ACG

I think you can do a product switch online.

You only need to go through the ins and outs of everything if a human is involved in any way.

GingerBob_3

James_B. wrote: »

And again, someone who wanted to change the terms of their deal, and who decides to throw a little tantrum when the other party says "no thanks".

Are you an only child? It's hard to believe that if you have siblings that you could ever have made it to adulthood with such a ludicrous sense of entitlement.

I've had a mortgage for many years and I seem to think the T&Cs have been changed by the provider on numerous occasions and I have had no say in the matter, so when I took it out there was nothing about compulsory affordability checks. As for them saying "no thanks", well actually it was me who said "no thanks" - to their stupid proposal which would have meant an affordability check even though I'd be paying slightly less per month for a short period of time (no common sense or flexibility there).

Your second paragraph: As they say on Wikipedia, comment on the content, not on the contributor. Go ahead, tell me what I say is stupid - and why you think it so - and I'll argue the case, but your banal remarks just make you look a fool.

spire2009

Goldiegirl wrote: »

That approach, or more usually 'do you know how much money I've got in my account', NEVER cut any ice with me

The problem is, we seem to have bred a society that wants what they want when they want it, no questions asked.


When it all goes wrong a few years later, these people take no responsibility for this - they blame the bank for lending the money to them in the first place - they never. ever think that maybe they should be taking the blame for wanting to borrow more than they could afford, and then making bad budgeting decisions once they are living in the house.


But responsible borrowers have also been caught up in this, as they have to follow the new rules too.


Yes, it's frustrating. But if you want to proceed, you just have to do what the lender wants you to do. There's no point in having a tantrum on the phone - that'll get you nowhere. In fact people won't want to help you at all.


If it's that important to you, 50 minutes on the phone going through the process is nothing really.


Oh, and whatever you do...... don't mention your ball-ache! :rotfl:

I think you raise some valid points.

The people who can manage their finances, demonstrate a history of servicing & repaying debt, have a plan B & C should things turn sour are paying the price for those individuals who live champagne lifestyles on lemonade budgets.

spire2009

James_B. wrote: »

So you think that when you signed up for fixed terms that this actually only bound the bank, but meant that you should freely be able to change the terms?

Have you had some kind of cranial injury, or do you just not understand how a contract works?

It never fails to amuse, the way people sign up to an agreement, and then have a little tantrum when expected to stick to it.

Pipe down.

Halifax have always actioned my previous requests to reduce the terms on my mortgages, they're even prepared to do it now, subject to a 40-50 min telephone interview!

So the contract is not the issue, it's Government regulation and the inability to apply common sense.

M0ney

spire2009 wrote: »

Pipe down.

Halifax have always actioned my previous requests to reduce the terms on my mortgages, they're even prepared to do it now, subject to a 40-50 min telephone interview!

So the contract is not the issue, it's Government regulation and the inability to apply common sense.

Banks basing their decisions on "common sense" was what led to the housing crash of 2007.

In 2012 I reduced the term of my mortgage by 5 years and it was done simply by emailing a mortgage advisor whom Ihad previous chatted to and that was great.

Around a month ago I wanted to do the same thing again (saves my going into the branch to make overpayments, I didn't realise at that time it could be done online) and I was shocked to be told the assessment would take 45-60minutes on the phone but of course he explained that the regulations have become more stringent since then, I did question it but accepted it. Why, in your own words, would you throw a tantrum? It's a very juvenile approach to take, a mortgage is something that should be taken seriously not for granted.

HoneyAndLemon

https://forums.moneysavingexpert.com/discussion/5075065

I think this thread is one example of why these 'reviews' are necessary now if you speak to an advisor at all. You may only be changing product, which yes may be saving you a few quid each month, but that product might be suitable for you if you're planning on moving/selling etc within that product time. You may know you're not, but if you're going to speak to someone about the mortgage, they now have to be sure they've covered all these points. If you don't want that, you've the option of doing execution only online for a product.

For a change of term, you're asking to change your contract. Lender is under no obligation to allow that, so only reasonable they have a discussion with you around the circumstances, incase you come running back in the future after a change of heart claiming they should never have allowed you to do it.

Mortgage_Mark_2

Spire2009 - Sorry to potentially pour more water on your bonfire but if Halifax assess as a new application you might have a bigger problem - their minimum mortgage term is 5yrs....

Let_Us_See

northerner999 wrote: »

My fixed-rate mortgage with Halifax has just expired, I tried to sign up for a new fixed deal over the phone, but was also told it would take about an hour as they had to do a review.

It's a pain, but I'd rather that than have a mortgage with a company that finds itself in a huge mess due to irresponsible lending.

What a short memory! Why do you think Halifax is now part of Lloyds Banking Group?

northerner999

I remember it clearly, which is why I do not mind more stringent lending criteria. I think it is those who begrudge spending an hour to sort out a mortgage who may have a short memory - because, as history clearly proved, not everyone who thinks they can easily afford something actually can when push comes to shove.