Letter from Halifax about reviewing how my mortgage was sold to me

sorryitsme

I've had a letter today from Halifax about concerns raised from customers how their mortgage was sold (April 2014-July 2014)to them in particular:

1. If you wanted a fixed rate mortgage for 2-4yrs

2. Your income and outgoings and how much you wanted to commit to your monthly mortgage.

Has anyone else had this letter?

I wonder what has gone wrong here? :eek:

dimbo61

Are you sure the letter is from the Halifax?
Scam to get your bank details or other info? Be very careful !

MissusPotter

Not sure how relevant this is, however a friend has just had £9000 given back to her because of a mis-sold mortgage.
I wonder if its anything similar?

Goldiegirl

What are they asking you to do?

kingstreet

Did you apply for your mortgage directly, or via a broker?

Was it before, or after, 14 April 2014?

sorryitsme

I've called them and they said they are just reviewing how it was sold as that period covers when the MMR was introduced, and nothing to worry about.

But the wording in the letter said there were concerns.

I did raise that my length of term that I wanted was shortened than what I wanted and didn't consider my pensionable age.

It was directly via Halifax and was June 2014.

They are going to get someone to call me back.

kingstreet

The period in question was in the two/three months following MMR which took place on 14 April on Halifax cases.

I guess they are just looking at how things went in that early period. I don't recall much if anything changing between 14 April and today in terms of not writing business beyond state pension age without evidence of income in retirement.

However, we are talking about their internal sales processes, so only a Halifax employee directly involved during that period would be able to answer definitively.

sorryitsme

They called me back today to apologise.


I think it was to do with the paperwork they originally sent me conflicted with what happened. I wanted to pay £650 per month as stated on the paperwork but was in fact paying £695


Also they didn't not extend up to the required end of term (pensionable age) I asked for, which would have lowered my monthly payments as they based it on 66 instead of 68.


They are going to come back with a few options ...... will update you with the response.

kingstreet

66 is state pension age if you were born before 5 April 1960.

It then steps up to 67 if you were born upto 5 April 1977.

It's only 68 if you were born after 6 April 1978.

sorryitsme

I was born after April 1977

kingstreet

sorryitsme wrote: »

I was born after April 1977

You should have been able to set the term to expire before your 67th birthday then.