Standard Life / Barclays mortgage scam??

Goldfield

Hi Money saving experts!

I am reaching out to anyone with a Standard Life mortgage that got transferred to Barclays in 2006. I want to know if the extra mortgage I got stung with was just an unfortunate error, or a bigger bank scam.

When my mortgage with Standard Life got transferred to Barclays after sell out, I got a new 'fees' mortgage added to my two existing mortgages. So instead of two mortgages (one principal, one small one for fees) I suddenly had 3 mortgages ( 1 principal, 2 fees).

I called Barclays and they just said 'oh it's fees'. To be honest I didn't chase it up as hard as I should have as I just found out my mum was terminally ill and that we were having a baby.

I eventually followed it up with Barclays and the Financial Services Ombudsman. The FOS ruled that it was an invalid mortgage, but beacuse it wasn't Barclays fault in originating it, they weren't responsible in paying it back. Additionally, because I hadn't paid any money to Standard Life, they wouldn't have to compensate me for the money either.

I would really like to hear from anyone who had a Standard Life mortgage if you had a similar problem. If it was just a one off admin error for me that mean I was out by a couple of grand, well, at least I can move on and forget about it. Otherwise I'd love to hear from you!

Cheers!

dunstonh

Can you explain what these fees are?

Barclays took on responsibility for Std Life mortgages. So, if these were Standard Life fees or Barclays fees then they would be responsible. If they were broker fees then they would not be.

Goldfield

Hi Dunston,

Thanks for your reply. Barclays just said 'it's fees' when I probed, they sent me a list of all the possible fees that it might be. These included everything from establishment fees to early exit fees. So, basically, they don't know what it is either, but they were more than happy for me to pay it.

dunstonh

Goldfield wrote: »

Hi Dunston,

Thanks for your reply. Barclays just said 'it's fees' when I probed, they sent me a list of all the possible fees that it might be. These included everything from establishment fees to early exit fees. So, basically, they don't know what it is either, but they were more than happy for me to pay it.

Did you pay your arrangement fees at the start or did you add them to the mortgage?

They wont be early exit fees as you dont pay those until you repay the mortgage.

Goldfield

I did have arrangement fees added to a separate mortgage. The problem is that somewhere along the line a second 'fees' mortgage was added. Barclays have no clue what the mortgage is for. They initially told me that it was a loan of some sort. When I challenged them on this as I had not taken out a loan with them, they then said it was fees.

When pushed, they sent me a list of things that they charge fees for. including establishment fees AND early exit fees and basically, said 'take your pick' as to what the fees might be for. They never said 'this fee is for establishment, or change of rates' or whatever. Eventually, they basically said as the mortgage had originated with SL, they didn't know what the fees were, but that I still had to pay it.

I know I won't get this sorted on a personal level, as the Financial Service Ombudsman has said yes it's a SNAFU, but good luck trying to get money back from anyone. I really just wanted to put my mind at rest that it was just an unfortunate thing that happened to me and not a wider accounting 'error' for SL to boost their coffers.

Thanks for all your help!

getmore4less

Don't you have the details of what you had just before the transfer.

Just after you should have the same.

If not then the extra are a result of the transfer.

Any correlation with the amount on this new account and any other debt or charges.

IF the bank and the FSO are saying its OK for them to invent extra debt that you have to pay then consider further action.